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Forex4you Technical Analysis 19 July 2011

Discussion in 'Forex Daily News & Outlook' started by forex4you, Jul 19, 2011.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
    Likes Received:
    EUR/USD: rallying into resistance
    The exchnage rate has leapt higher and if it can break through resistance from the lower borderline of the triangle then it could signal a reversal - however it is too early to say yet whether that will happen. The next target higher would be at 1.4300 where there is a cluster of moving averages, however a resumption of the bearish trend would be expected to find support at the old lows: firstly 1.4015 and then 1.3840.


    Analysis by: Joaquin Monfort
    Forex4you analyst

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