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Forex4you Technical Analysis 19 May 2011

namrata.yadav

By namrata.yadav
in Fundamental Analysis

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namrata.yadav Newbie

namrata.yadav

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EUR/USD: technical analysis

The EUR/JPY is in a strong counter-trend rally which will probably continue. It has broken above the neckline of an inverted H&S at 116.50 and may well go much higher, with 119.50 s a target calculated from the pattern's length. The point and figure charts yield closer targets of 117.40 on the 0.05x3 and 118.00 on the 0.1x3 for a more conservative play.

EURJPY190511.png

Forex| 外匯

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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