Forex4you Technical Analysis 27 July 2011

Go down

Forex4you Technical Analysis 27 July 2011 Empty Forex4you Technical Analysis 27 July 2011

Post  namrata on Wed Jul 27, 2011 6:23 am

EUR/USD: technical analysis

The bulls came very close to 1.4560/50 target level and almost reached it, but the price met a strong resistance at level 1.4530, so it now resides at 1.4470/80. Indicators are weakening their readings, they don't seem to suggest further growth anymore - we now expect sideways movement within 1.4550/40 – 1.4450 range, or may be with even lower border, at 1.4370/80 support line. Decline below 1.4260 support should be considered as a signal towards the change of sentiment in the market. Fixation above 1.4550/60 level will give reasons to expect the bulls to test a new support at 1.4700 level.

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