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Forex4you Technical Analysis 05 Feb 2013

Discussion in 'Forex Daily News & Outlook' started by forex4you, Feb 5, 2013.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
    Likes Received:
    EUR/USD: correction extends

    The pull-back in eurodollar continues and given there is no sign of reversal – in fact the down-move looks like it is strengthening – it will probably extend. A possible downside target would be the monthly pivot situated at 1.3390, which is further bolstered by a support and resistance line at the same level. Overall the mid-term trend remains up, however, and will probably resume eventually.


    Analysis by: Joaquin Monfort
    Forex4you analyst

    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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