forex4you Posted May 18, 2012 Report Posted May 18, 2012 EUR/USD: Technical Analysis Eurodollar has found support at the January lows and the S3 monthly pivot. It has almost reached the target calculated from the breakout of the triangle at 1.2595. A key reversal bar has just formed on the 4-hr chart and a hammer candlestick is forming on the daily. RSI is oversold. Theses are early reversal signs and there will probably be a small correction as traders ease positions, with the range highs at 1.2755 providing an initial target. A break even lower is also a possibility with the next step down the 1.2340 '08 lows. 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. Quote Belajar Forex
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