Forex4you Technical Analysis 21 July 2011

Go down

Forex4you Technical Analysis 21 July 2011

Post  namrata on Thu Jul 21, 2011 5:50 am

AUD/USD: technical analysis
The pair continued its uptrend and the price rose to level 1.0780/70, which turned out to be a strong barrier for the bulls, so trading retraced backwards and it's now carried out at 1.0720/10. No significant changes took place, so the outlook is rather unclear - 1.0780/70 resistance breakout will determine further bullish trend aimed at testing 1.1000 maximum level. 1.0530/50 support breakout, on the other hand, will be a signal for decline towards 1.0400, and then to 1.0280/1.0300 levels. As for the indicators, their readings seem to be prefer growth as a higher possibility.

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