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Forex4you Technical Analysis 24 May 2011

Discussion in 'Technical Analysis' started by forex4you, May 24, 2011.

  1. forex4you

    forex4you New Member

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    EUR/USD: technical analysis
    The pair bounced off support as anticipated and although it has been rising it is now close to resistance from trendlines sloping down and may pull back to support at 1.4025. From there, there is the possibility of another rally with 1.4140s as a possible end target given that both the 0.001x3 and the 0.0005x3 charts are showing upside targets to that level.

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    Forex |外匯

    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.
     
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