forex4you Posted May 16, 2012 Report Posted May 16, 2012 EUR/USD: Technical Analysis Eurodollar is forming reversal patterns at the lows which could indicate a bounce if confirmed. A hammer is forming on the daily and 4-hr charts. The measuring gap target at 1.2730 has been reached; the weekly pivot is supporting and not far below is the rarely touched S3 monthly pivot. There is further support from old trend-lines on the 50 pip and 10 pip point and figure charts. A bounce higher would probably reach resistance at 1.2810 and then 1.2873; a roll-over would target former lows at 1.2625. Analysis by: Joaquin Monfort 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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