Forexpros.com Daily Analysis - 04/05/2011
May 04, 2011 6:25 AM ET
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Founded in 2007, Forexpros is a definitive source for tools and information relating to the financial markets such as real-time quotes and streaming charts, up-to-date financial news, technical analysis, brokers directory & listings, an economic calendar, and tools & calculators. The site provides in-depth information on Currencies, Indices & Stocks, Futures and Options, Commodities, and Rates & Bonds. With a growing readership worldwide, Forexpros is a leading global financial portal that is constantly committed to launching innovative features and sections to ensure an optimal one-stop source for its readers.
Eur/Usd Towards 1.49 and Above
Slow, choppy waves don't change outlook here, which is still bullish with prices trapped in a corrective formation, labelled as a wave iv). As such, wave five targets are still in view around 1.495 followed by 1.5, once 1.49 is out. Bullish trend remains intact as long as the pair trades above the channel support line and 1.4645 critical region.
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New on Forexpros, the Fibonacci Calculator!
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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.
Slow, choppy waves don't change outlook here, which is still bullish with prices trapped in a corrective formation, labelled as a wave iv). As such, wave five targets are still in view around 1.495 followed by 1.5, once 1.49 is out. Bullish trend remains intact as long as the pair trades above the channel support line and 1.4645 critical region.
---
New on Forexpros, the Fibonacci Calculator!
---
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.
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