Jump to content

Recommended Posts

Posted

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.

EURUSD180612.png

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.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...