Forex4you Technical Analysis 3 May 2011
Page 1 of 1
Forex4you Technical Analysis 3 May 2011
EUR/USD: technical analysis
This pair is consolidating in a broadening formation as shown on the 0.0005 x 3 chart below. It has completed five legs and therefore may be close to completion. The next move could be a break out higher but the longer term charts are showing all their upside targets have been met - implying exhaustion. There is a chance that the next move may also be down and this could be a reversal pattern. Traders are advised to stand aside until the direction of the breakout is confirmed.
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.
This pair is consolidating in a broadening formation as shown on the 0.0005 x 3 chart below. It has completed five legs and therefore may be close to completion. The next move could be a break out higher but the longer term charts are showing all their upside targets have been met - implying exhaustion. There is a chance that the next move may also be down and this could be a reversal pattern. Traders are advised to stand aside until the direction of the breakout is confirmed.
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.
namrata- Posts : 62
Join date : 2011-04-15
Similar topics
» Forex4you Technical Analysis 31 May 2011
» Forex4you Technical Analysis 9 May 2011
» Forex4you Technical Analysis 27 May 2011
» Forex4you Technical Analysis 5 May 2011
» Forex4you Technical Analysis 20 May 2011
» Forex4you Technical Analysis 9 May 2011
» Forex4you Technical Analysis 27 May 2011
» Forex4you Technical Analysis 5 May 2011
» Forex4you Technical Analysis 20 May 2011
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum