forex4you Posted March 26, 2012 Report Share Posted March 26, 2012 EUR/USD: Technical Analysis Earlier concerns, that 1.3290 resistance may initiate another pullback down, seem to confirm. Having tested this key resistance, the price recommenced its decline and now resides at 1.3220/10 levels. Indicators are changing to more "bearish", which gives reasons to expect current decline to proceed down to 1.3100 support. If this barrier, together with the secondary trend (blue dashed) line are breached, trades will most likely fall to the new local minimums 1.2970, 1.2870 and then 1.2620. Medium-term reversal up will be possible only if the price retraces back to the uptrend channel sector (red lines). Analysis by: Arkady Nagiev Forex4you analyst Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Quote Belajar Forex Link to comment Share on other sites More sharing options...
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