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Forex4you Fundamental Analysis 22 March 2011

Discussion in 'Forex Daily News & Outlook' started by forex4you, Mar 22, 2011.

  1. forex4you

    forex4you New Member

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    EUR/USD: technical analysis
    Growth continued, as forecasted, trading went up to level 1.4250/60 and now the price resides at 1.4240/30. Indicators remained the same, suggesting further "bullish" trend. However, 1.4250/60 resistance level, which has already proved to be a strong barrier, reversing the "bullish" trend in November, gives reasons to consider another growth stop as quite a possibility. Yet, if the growth continues, the next barrier for the "bulls" will be level 1.4300/1.4290, which matches with a long-term down trend line, that links the pair's historical maximum with November 2009 maximum level (red line). The signals for reversal are the same - decline below 1.4010/00, and then 1.3850/80 up trend line breakout (blue lines).

    EUR/USD: technical analysis
    Growth continued, as forecasted, trading went up to level 1.4250/60 and now the price resides at 1.4240/30. Indicators remained the same, suggesting further "bullish" trend. However, 1.4250/60 resistance level, which has already proved to be a strong barrier, reversing the "bullish" trend in November, gives reasons to consider another growth stop as quite a possibility. Yet, if the growth continues, the next barrier for the "bulls" will be level 1.4300/1.4290, which matches with a long-term down trend line, that links the pair's historical maximum with November 2009 maximum level (red line). The signals for reversal are the same - decline below 1.4010/00, and then 1.3850/80 up trend line breakout (blue lines).

    Forex Trading
    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.
     
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