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Forex4you Technical Analysis 14 Feb 2013

Discussion in 'Forex Daily News & Outlook' started by forex4you, Feb 14, 2013.

  1. forex4you

    forex4you New Member

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    EUR/USD: possible bearish break

    Eurodollar has fallen back down and touched support from the trend-line today. There is strong downwards pressure and it is attempting to break lower. A move below 1.3355 would be a strong bearish continuation sign with the 50-day MA at 1.3260 providing the next downside target. Alternatively there is still a possibility of a bounce targeting the 1.3640s, with a break above resistance clustered at 1.3460 adding confirmation.

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    Analysis by: Joaquin Monfort
    Forex4you analyst

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