Forex4you Technical Analysis 11 July 2011
Page 1 of 1
Forex4you Technical Analysis 11 July 2011
EUR/USD: pivotal moment
This pair gapped down this morning, reaching the lower border of the triangle at 1.4150. There is strong support at the current level indicating the possibility of a bounce if the move reverses. I would expect a rebound to hit resistance at 1.4190 or possibly fill the gap at 1.4250. Currently, however, there is no sign of the down-trend slowing down and if it continues, the support at 1.3950 might slow progress. A strong breakout from the pattern could go much further – targeting 1.3180.
Belajar 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.
This pair gapped down this morning, reaching the lower border of the triangle at 1.4150. There is strong support at the current level indicating the possibility of a bounce if the move reverses. I would expect a rebound to hit resistance at 1.4190 or possibly fill the gap at 1.4250. Currently, however, there is no sign of the down-trend slowing down and if it continues, the support at 1.3950 might slow progress. A strong breakout from the pattern could go much further – targeting 1.3180.
Belajar 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
Similar topics
» Forex4you Technical Analysis 5 July 2011
» Forex4you Technical Analysis 29 July 2011
» Forex4you Technical Analysis 5 July 2011
» Forex4you Technical Analysis 7 July 2011
» Forex4you Technical Analysis 8 July 2011
» Forex4you Technical Analysis 29 July 2011
» Forex4you Technical Analysis 5 July 2011
» Forex4you Technical Analysis 7 July 2011
» Forex4you Technical Analysis 8 July 2011
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum