Forex4you's Blog – June 2012 Archive (4)

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…

EUR/USD: Technical Analysis

Bulls failed to push the price up to 1.2800 level, trading continued within sideways range, close to the local maximums and is currently carried out at 1.2650/60 level. Indicators suggest to expect a possible reversal down. If the price breaches a short-term uptrend (blue) line within 1.2600-1.2580 support range, it’ll be a signal for another decline towards 1. 2520/00 level, and may be even lower to the minimums at 1.2280/70 support.…

EUR/USD: Technical Analysis

The pair is still climbing within a channel. It will probably continue higher and possibly re-touch the 1.2750 highs, or even the upper channel line at 1.2790. If there is a fall back down then the monthly pivot underpins support at 1.2660, although a breach of that would probably lead to a move down to the lower channel-line at 1.2615.…

EUR/USD: Technical Analysis

Bearish trend recommenced, trading is currently carried out at 1.2340/30 level. Indicators suggest further downtrend, which gives reasons to expect earlier forecast to confirm. Decline towards 1.2240/50 support is the most possible scenario. If this barrier on the way down doesn't hold back the bears, level 1.2160/45 will be tested next and the price will most likely commence its decline towards 2010 minimum - level 1.1880/90.…