forex4you Posted April 9, 2012 Report Share Posted April 9, 2012 EUR/USD: Technical Analysis The price breached 1.3100/05 support and reached 1.3040/30 level. At the moment we observe sideways correction to be formed, trading is carried out at 1.3090/80 levels. Earlier forecasts are still relevant - further decline towards 1.2970/80 support may commence anytime soon, plus the price has all chances to fall lower towards 1.2870/80 and 1.2750 levels too. Indicators say in favor of this scenario. When correcting, the price may test earlier breached auxiliary trend line (blue-dashed line) as a resistance. As for the reversal up, the bulls have to push 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. Quote Belajar Forex Link to comment Share on other sites More sharing options...
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