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

Forex4you Technical Analysis 3 May 2011

Discussion in 'Technical Analysis' started by forex4you, May 3, 2011.

  1. forex4you

    forex4you New Member

    Joined:
    Jul 13, 2010
    Messages:
    137
    Likes Received:
    0
    EUR/USD: technical analysis
    This pair is consolidating in a broadening formation as shown on the 0.0005 x 3 chart below. It has completed five legs and therefore may be close to completion. The next move could be a break out higher but the longer term charts are showing all their upside targets have been met - implying exhaustion. There is a chance that the next move may also be down and this could be a reversal pattern. Traders are advised to stand aside until the direction of the breakout is confirmed.

    [​IMG]

    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.
     
Loading...

Share This Page