Forex4you Technical Analysis 14 June 2011
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Forex4you Technical Analysis 14 June 2011
EUR/USD: count-trend rally unfolding
The counter-trend rally in the EUR/USD pair is still unfolding and will probably go higher as there has just been a trendline break and there are no signs of weakness in the rally yet. There is an eventual target of 1.4540 established from a count at the lows on the point and figure chart below. At a similar level is the old neckline of the H&S top which would be expected to offer resistance. After the rally terminates the pair will probably resume its downtrend and make new lows.
外汇交易
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.
The counter-trend rally in the EUR/USD pair is still unfolding and will probably go higher as there has just been a trendline break and there are no signs of weakness in the rally yet. There is an eventual target of 1.4540 established from a count at the lows on the point and figure chart below. At a similar level is the old neckline of the H&S top which would be expected to offer resistance. After the rally terminates the pair will probably resume its downtrend and make new lows.
外汇交易
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.
namrata- Posts : 62
Join date : 2011-04-15
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