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Forex4you Fundamental Analysis 25 March 2011

Discussion in 'Forex Daily News & Outlook' started by forex4you, Mar 25, 2011.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
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    EUR/USD: technical analysis

    Trading remained within 1.4250 –1.4060/50 range, proving previous forecasts of a sideways correction. At the moment, the price resides at 1.4170/80 level. Indicators made an attempt to return to growth, but the change of sentiment in the market looks to be imminent anyway. With no changes, made to the structure, previous forecasts still apply – trading is likely to remain in the earlier formed range. Should the price decline and hold below 1.4060/50 support, we'll consider this event as the first "bearish" signs. Level 1.4010/00 and then 1.3850/80 (uptrend channel line - blue line)breakout will indicate a reversal to a down trend. Further growth is possible, but probably only to a strong 1.4300/1.4290 resistance level - long-term down trend line (red line).

    Forex Trading
    Analysis by: Joaquin Monfort
    Forex4you analyst

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