Forex4you Technical Analysis 11 October 2012

EUR/USD: Technical Analysis

Eurodollar has formed a double bottom at yesterday's lows and has managed to remain above the upper line of the wedge. Momentum is converging
bullishly and we will probably see a rally from here. A rise above the neckline at 1.2913 would target 1.3000 – although a nearer target would be
the tough level of resistance at 1.2970. A re-break of the 1.2824 lows would lead to a renewal of the down-trend perhaps to support at 1.2775.

Analysis by: Joaquin Monfort
Forex4you analyst

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.

Views: 12


You need to be a member of Stock Trading Community - News, Penny Stocks, Forex, Day Traders to add comments!

Join Stock Trading Community - News, Penny Stocks, Forex, Day Traders

© 2014   Created by Roger Carter.

Badges  |  Report an Issue  |  Terms of Service