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Forex4you Technical Analysis 11 July 2011

Discussion in 'Forex Daily News & Outlook' started by forex4you, Jul 11, 2011.

  1. forex4you

    forex4you New Member

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    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.

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    Belajar Forex
    Analysis by: Joaquin Monfort
    Forex4you analyst

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