Jump to content

Forex4you Technical Analysis 30 May 2012


Recommended Posts

EUR/USD: Technical Analysis

The price declined lower and breached 1.2470 level, mentioned earlier as the target. At the moment the price is attempting to hold below this support, trading is carried out at 1.2450/40 level. If the bears succeed, the next target at 1.2400/1.2390 support will be tested any time soon after. On the other hand, currently forming MACD divergence suggest to be cautious and consider a possibility of the upcoming large-scale pullback. The fact, that the price now resides close to the cluster of strong supports says in favor of this assumption. Bearish R% and SS, however, still suggest lower levels to be possibly tested in the near future.

EUR300512.gif

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.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...