Forex4you Technical Analysis 27 May 2011

Go down

Forex4you Technical Analysis 27 May 2011

Post  namrata on Fri May 27, 2011 5:23 am

EUR/JPY: technical analysis
The EUR/JPY pair is in a sideways move, hemmed in by support and resistance above and below , with 116.50 above and the ichimoku cloud base at the lows at 115.00. On the 0.1x3 point and figure chart a triangle pattern can be seen unfolding with support at 114.35 and resistance at 115.90. The smaller 0.05x3 chart has high and low counts with targets of 116.00 and 114.25, and a double bottom sell signal. The bias appears to be down initally, perhaps to 114.30, but a break in either direction is possible therafter.

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.


Posts : 62
Join date : 2011-04-15

View user profile

Back to top Go down

Back to top

- Similar topics

Permissions in this forum:
You cannot reply to topics in this forum