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

Forex4you Technical Analysis 7 July 2011

Discussion in 'Forex Daily News & Outlook' started by forex4you, Jul 7, 2011.

  1. forex4you

    forex4you New Member

    Joined:
    Jul 13, 2010
    Messages:
    137
    Likes Received:
    0
    EUR/JPY: downside bias
    Signals on my point and figure charts are mixed as the exchange rate bounces from its lows. The 0.05x3 chart has a new upside count to 116.90 but it also still has the old 115.35 target which has not quite been met and a new dowside count to 114.45. However, overall there is a downside bias given the very bearish looking triple bottom continuation pattern on the 0.1x3 chart, so a move to 115.35 first and then probably 114.45 is likely.

    [​IMG]

    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.
     
Loading...

Share This Page