Forex4you Technical Analysis 30 May 2011

Go down

Forex4you Technical Analysis 30 May 2011 Empty Forex4you Technical Analysis 30 May 2011

Post  namrata on Mon May 30, 2011 6:20 am

EUR/USD: pulling back to support
The EUR/USD is in a rising counter-trend rally. The more recent activity shows a dip forming which, if it continues, could fall back down to support at around 1.4200, provided by the lower channel line of the move up. The 0.005x3 point and figure chart highlights the importance of key resistance at 1.4300 with a possible treble-top buy signal setting up. The 0.001x3 is also bullish with its very high 1.2700 target, however, the smallest box size chart is bearish with a down target at 1.4200. One interpretation might be that there is a strong likelihood of a pullback to 1.4200 before a move higher.

Forex4you Technical Analysis 30 May 2011 EURUSD300511

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