1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Forex4you Technical Analysis 18 July 2011

Discussion in 'Forex Daily News & Outlook' started by forex4you, Jul 18, 2011.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
    Likes Received:
    EUR/USD: pull-back in progress
    The euro-dollar pair has bounced off the lower boundary of a recent channel and it will probably rise to the upper channel line at the 1.4100 level, or resistance at 1.4125. There is a Demark buy setup on the 4-hour chart supporting this short-term bullish perspective. The bearish point and figure charts however indicate a probable resumption of the down-trend eventually, targeting 1.3950 to the downside.


    Analysis by: Joaquin Monfort
    Forex4you analyst

    Disclaimer: 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.

Share This Page