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

Forex4you Technical Analysis 23 June 2011

Discussion in 'Technical Analysis' started by forex4you, Jun 23, 2011.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
    Likes Received:
    EUR/USD: trending down
    The euro rolled-over during the night and has been falling all today. There is no evidence of any weakness in the downtrend so it will propbably continue. However, it has reached oversold levels to there is the possibility of a short term bounce. It has reached a support and resistance line at the current 1.4220 level and it could rebound from here. Alternatively the S3 daily pivot at 1.4180 level could also provide a buying zone. Longer term it would be expected to make new lows.


    Belajar 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.

Share This Page