forex4you Posted April 5, 2012 Report Posted April 5, 2012 EUR/USD: Technical Analysis Earlier forecasts confirmed - the price declined to the auxiliary trend line (blue dashed line) and then reached level 1.3100/05, which proved to be a strong resistance, so trading pulled back up and now resides at 1.3240/50 level. Indicators suggest a downtrend, which gives enough reasons to anticipate another decline and 1.2970/80 support test. However, currently tested level may halt dissension or even initiate further correction. To recommence their trend the bulls will have to lift the price at least above 1.3290/1.3300 level. 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. Belajar Forex
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