Forex Forums  

Go Back   Forex Forums > Forex Forums > Forex Forum

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 02-28-2013, 04:46 PM
Senior Member
 
Join Date: Mar 2012
Posts: 189
Arrow Forex Technical Analysis By Forex4you 28th February 2013

EUR/USD: Possible Bearish Resumption

Eurodollar rebounded off yesterday’s lows breaking above 1.3120 and beginning a weak rally higher. It has now rolled over however and is in the process of pulling back. It will probably correct back further or even renew its down-trend. If it breaches the 1.3050 lows then that would confirm the bearish resumption, perhaps down to 1.2900, the target for the head and shoulders top. A rebound, however, would see a move up to the 1.3200 level where the upper channel line is situated.



USD/JPY: Technical Update

The USD/JPY stalled in its down-trend after the big down-day on Monday. It has now recovered slightly and reached resistance from the previous range lows. There may be a falling 3-methods type pattern forming with the down-day followed by 3 smaller up-days which is ultimately a bearish signal albeit in the direction against the major trend. There are still unfulfilled targets to the downside at around the 90.00. Given the dominant up-trend, however, we may see a resumption higher too, back into the range and up the old 94.54 highs again.



Analysis By: Forex4you Analyst - Joaquin Monfort.

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 currency 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.

Forex4you,
Managed Forex
Forex4you is the leading forex broker operates all over the globe. Forex4you provides online forex trading for retail clients with the help of electronic payment system.
Reply With Quote
Reply

Tags
forex, forex analysis, forex forecast, forex technical analysis, forex4you analysis


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On




All times are GMT. The time now is 04:12 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.1.0 ©2007, Crawlability, Inc.