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

Forex4you Technical Analysis 19 July 2011

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

  1. forex4you

    forex4you New Member

    Joined:
    Jul 13, 2010
    Messages:
    137
    Likes Received:
    0
    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.

    [​IMG]

    Forex
    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.
     
Loading...

Share This Page