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Forex4you Technical Analysis 26 March 2012


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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).

EUR260312.gif

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.

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