Forex4you Technical Analysis 24 May 2012

EUR/USD: Technical Analysis

The price breached 1.2620 support, which indicated further possible decline towards new local minimums. Trading is currently carried out at 1.2550/40 levels. Indicators are turned down, suggesting to expect new targets to be tested at 1.2470 - 1.2400/1.2390 levels. However, a cluster of strong supports on the way may halt the pair and trigger consolidation with 1.2620/25 resistance as the upper bound.

Analysis by: Arkady Nagiev
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: 31


You need to be a member of My Forex Space - Online Forex Trading Community to add comments!

Join My Forex Space - Online Forex Trading Community

Featured Brokers

© 2019   Created by Sam Wexler.   Powered by

Badges  |  Report an Issue  |  Terms of Service