Forex4you Technical Analysis

[namrata.yadav]

EUR/USD: technical analysis

The EUR/USD pair has temporarily bottomed and today price has rebounded. At its current 1.44 level the rise has encountered sturdy resistance from the underside of the trendline for the move up from the January lows, the trendline down from the highs and the 23.60% Fibonacci line. It is possible it could resume its downtrend from here reaching a shelf of support at around 1.4250. However, the point and figure charts, are showing a cluster of bullish price targets at around 1.4500, indicating the possibility of a break higher, to perhaps the resistance line situated there or slightly above.

Forex| Foreign Exchange

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.

[Tanzil Al Banna]

In order to me, technical analysis is relatively easy than fundamental! So, I started my learning process through technical analysis! I used almost 15 different sites to learn, but I found beginners training course of TradingBanks broker was the most helpful one! As a result, now I easily can track any swing point of market, so I follow market trend only!