JDFN Financial Network

Forex4you Technical Analysis 11 Dec 2012

EUR/USD: Technical Analysis

The triangle on eurodollar on Monday ended up breaking out higher and fulfilling its 1.2975 target. It will now probably correct back in a final wave lower, perhaps to the 50-day MA at 1.2925, or maybe even to support at 1.2905. After that it is possible the up-trend will resume and target 1.3000 first and then probably between 1.3060-80 where an old trend-line may resist further gains.

Analysis 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.

Views: 5

Comment

You need to be a member of JDFN Financial Network to add comments!

Join JDFN Financial Network

About

James Dicks created this Ning Network.

© 2019   Created by James Dicks.   Powered by

Badges  |  Report an Issue  |  Terms of Service