Forex4you Techncial Analysis 14/09/10
EUR/USD: Technical Analysis
This pair rose higher than expected yesterday. If it breaks above the key September 6th highs at 1.2919 then prices will probably rise even higher perhaps to the area of the 61.8% Fibonacci retracement of the 6th of August decline at 1.3040. If prices roll over before then they should begin a severe decline to 1.2720 initially and then probably substantially further to the 1.25s.
GBP/USD: Technical Analysis
A major decline is probably on the horizon but the question is more whether it will begin before one last rally up or after. There is a chance we have completed an ending pattern and the pair may break higher initially with a target of 1.5700; or that the current extreme low volatility is a sign that the move down is more imminent, with the 1.51s targeted first.
Analysis by: Forex4you.com written by Joaquin Monfort
Forex4you analyst
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.
This pair rose higher than expected yesterday. If it breaks above the key September 6th highs at 1.2919 then prices will probably rise even higher perhaps to the area of the 61.8% Fibonacci retracement of the 6th of August decline at 1.3040. If prices roll over before then they should begin a severe decline to 1.2720 initially and then probably substantially further to the 1.25s.
GBP/USD: Technical Analysis
A major decline is probably on the horizon but the question is more whether it will begin before one last rally up or after. There is a chance we have completed an ending pattern and the pair may break higher initially with a target of 1.5700; or that the current extreme low volatility is a sign that the move down is more imminent, with the 1.51s targeted first.
Analysis by: Forex4you.com written by Joaquin Monfort
Forex4you analyst
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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