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Forex4you Technical Analysis 14 June 2011

Discussion in 'Technical Analysis' started by forex4you, Jun 14, 2011.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
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    EUR/USD: count-trend rally unfolding
    The counter-trend rally in the EUR/USD pair is still unfolding and will probably go higher as there has just been a trendline break and there are no signs of weakness in the rally yet. There is an eventual target of 1.4540 established from a count at the lows on the point and figure chart below. At a similar level is the old neckline of the H&S top which would be expected to offer resistance. After the rally terminates the pair will probably resume its downtrend and make new lows.

    Analysis by: Joaquin Monfort
    Forex4you analyst

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