Forex4you Technical Analysis 24 June 2011
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Forex4you Technical Analysis 24 June 2011
EUR/USD: strongly counter-trending
The EUR/USD has fallen heavily but yesterday evening it reached support and bounced. The bounce has taken it to 1.4300 and it will probably go even higher. The 0.0005x3 point and figure chart is showing two bullish upside targets: one at 1.4320 and the other at 1.4405. There is also the possibility that the support and resistance line at 1.4275 could halt the rally. However, the principle trend is still down and eventually the main bear trend should prevail and resume its descent.
forex trading malaysia
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 EUR/USD has fallen heavily but yesterday evening it reached support and bounced. The bounce has taken it to 1.4300 and it will probably go even higher. The 0.0005x3 point and figure chart is showing two bullish upside targets: one at 1.4320 and the other at 1.4405. There is also the possibility that the support and resistance line at 1.4275 could halt the rally. However, the principle trend is still down and eventually the main bear trend should prevail and resume its descent.
forex trading malaysia
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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