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Forex4you Technical Analysis 29 Nov 2012

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EUR/USD: Technical Analysis

Eurodollar rebounded yesterday after reaching support from the 50-day MA. It has rallied up to 1.2975 as predicted and it still rising bullishly, possibly in an Elliot 5th wave, which could move slightly higher to resistance highs at 1.3000. After that it may correct back – perhaps as far as 1.2900 again before possibly resuming the overall up-trend.

EURUSD29.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.

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