Forex4you Technical Analysis 27 April 2011

EUR/USD: technical analysis
The price reached target 1.4700, mentioned in the previous forecast. Trading is currently carried out at 1.4675/80 level. Indicators suggest growth, albeit the fact of MACD divergence gives reasons to be ready for a possible large-scale pullback downwards. However, further "bullish" trend is most likely, so next target at level 1.4790/80 may be tested in the near future. support 1.4500 breakout and fixation below would indicate the change of sentiment in the market.



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Analysis by: Joaquin Monfort
Forex4you analyst

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