forex4you Posted February 16, 2012 Report Share Posted February 16, 2012 EUR/USD: Technical Analysis Forecasts, expecting further decline to 1.3040/00 level confirmed. The price is currently testing 1.3000 support, mentioned earlier as the key barrier on the way down. Indicators are "bearish", so the above mentioned level may be breached anytime soon. If it happens, we'll have good reasons to anticipate a medium-term reversal down with the next targets found at 1.2900/10 and then at 1.2830/40 level. It's also worth noting, that the support, which is now being tested is strong enough to hold back the "bears" for quite a while. Reversal up, towards 1.3170/1.3200 range will cancel the "bearish" scenario. http://www.forex4you.com/images/site/EUR160212.gif 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 Link to comment Share on other sites More sharing options...
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