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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

    Jul 13, 2010
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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.


    Forex | 外匯

    Analysis by: Joaquin Monfort
    Forex4you analyst

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