Forex4you Technical Analysis 11 April 2012

EUR/USD: Technical Analysis

The price keeps on consolidating within previously formed sideways range. The pair's picture hasn't changed significantly - indicators are still "bearish", but they now seem to become more neutral. Earlier forecasts still apply, so it's worth expecting further decline towards 1.2970/80 support range and then to 1.2870/80 and 1.2750 levels. Should the price rise and hold above 1.3290/1.3300, it'll be considered as a signal for reversal up.

Analysis by: Arkady Nagiev
Forex4you analyst

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