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  • Forex4you Technical Analysis 22 June 2012 0 comments
    Jun 22, 2012 7:51 AM

    EUR/USD: Technical Analysis

    Short-term uptrend (blue) line has led the price to 1. 2520/00 support, like expected, where it still resides, attempting to test this barrier. Indicators suggest further decline. The only question is whether the bears manage to breach 1.2520/00 level or not. If they do, the price will drop further down to 1.2430/15 level, and then to local minimums, found at 1.2280/70 support. Should trading retrace above 1.2650 resistance, the alternative scenario will come into play, and the price will most likely climb towards 1.2800 level.

    (click to enlarge)

    Analysis by: Arkady Nagiev

    Forex4you analyst


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