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  • Forex4you Technical Analysis 08 June 2011 1 comment
    Jun 8, 2011 7:58 AM
     EUR/USD: Technical Analysis
     
    Growth continued, the price reached a new local maximum at level 1.4695. At the moment trading is carried out a little bit lower, at level 1.4670/80. Indicators are turned up, but currently formed MACD divergence suggests to consider a stop and a pullback downwards, or maybe even a reversal. However, previous forecasts may still confirm - target still stands at 1.4860/70 level, strong 1.4790/70 resistance on the way up has all chances to become a starting point for a downward movement. Decline below 1.4460/30 support level will obviously indicate the change of sentiment in the market and the beginning of a medium-term downtrend.
     
     
    Analysis by: Arkady Nagiev
                 Forex4you analyst
     
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    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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    yep, looks like we had a top on the euro. I have the support 1.430 so if we go below it, it will be a strong sell signal. Check out my projection for the euro here:
    seekingalpha.com/insta...

    Regards
    8 Jun 2011, 02:37 PM Reply Like
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