LigaForex's  Instablog

Send Message
Social Trading - fun easy mobile at Liga Forex - a Revolution in Online Investing
My company:
Liga Forex
My blog:
LigaForex Blog - Revolution in Online Investing!
My book:
Forex eBook - Forex4you
  • EUR/USD: Falling Towards Trend-Line Technical Analysis 16th July 2014 0 comments
    Jul 16, 2014 7:11 AM

    The EUR/USD pair has broken below the S1 monthly pivot at 1.3564 and is currently moving lower. If it breaks below the 1.3544 confirmation level it will probably extend down to the level of the major trend-line drawn from June 2012 at 1.3517, which is expected to exert strong support.

    The very short-term up-trend is now in doubt, although the short-term trend - which I define as roughly corresponding to the period of time since the move down from the May highs - is bearish. The medium term trend remains bullish - further complicating matters. Ultimately the direction of the currency is dependent on the fate of the major trend-line at 1.3517. If it holds the mid-term bull will rise again; if it breaks we may see a strong move down and new price paradigm in the early 1.30s.

    (click to enlarge)

    Analysis by: LigaForex Analyst

Back To LigaForex's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.