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Forex4you Technical Analysis 25 May 2011

Discussion in 'Technical Analysis' started by forex4you, May 25, 2011.

  1. forex4you

    forex4you New Member

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    EUR/USD: technical analysis
    Previous growth was halted by a strong resistance around 1.4120/30 levels, so the trading pulled back downwards. The price now resides at 1.4070/80. Indicators are still turned up, but only in R% and MACD, SS looks neutral. Therefore, we should probably expect further correction, thought "bearish" trend is now dominating. When correcting, the price is also likely to test 1.4200/20 resistance level - downtrend channel (red) line. At the same time, further decline may commence from the current levels already. 1.4000 level breakout would indicate that a downtrend recommenced with the next stop, expected at 1.3850/60 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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