Forex4you Technical Analysis 13 July 2011

View previous topic View next topic Go down

Forex4you Technical Analysis 13 July 2011

Post  namrata on Wed Jul 13, 2011 5:59 am

EUR/USD: bounce continues
The chart of the euro-dollar shows price bouncing from the recent lows at the 200-day MA and the major trendline from July 2010. Yesterday was a hammer and today the pair is continuing to rise, engulfing yesterday's range – a bullish sign if it can hold. The natural place for the rally to end would be the lower border of the triangle at 1.4150, which also happens to be the S1 monthly pivot. Thereafter the down-trend will probably resume.


Forex
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

View user profile

Back to top Go down

View previous topic View next topic Back to top

- Similar topics

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