Forex Forums  

Go Back   Forex Forums > Forex Forums > Forex Forum

LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 03-01-2013, 04:41 PM
Senior Member
Join Date: Mar 2012
Posts: 189
Arrow Forex Technical Analysis By Forex4you 01st March 2013

AUD/USD: Bearish Continuation

The aussie has continued its peak and trough progression down after the break of the major trend-line last week. It has fallen to support at the old 1.0182 lows. It will probably continue even lower to the 1.0111 level where the monthly pivot is situated. There is also the possibility of a rebound from the current lows, perhaps, to the level of the upper channel line at 1.0265, with the chance of a sideways consolidation unfolding thereafter.

GBP/USD: Breaking Lower

GBP/USD looks like it is breaking to the downside and could continue lower with the next target at 1.4875 at the monthly pivot. Recently the pair broke out of a multi-annual triangle providing a very bearish signal and likelihood of substantially lower prices. Any upside would probably be capped by tough resistance lying at 1.5083.

EUR/USD: Hitting Range Lows

Eurodollar is consolidating in a range. Yesterday it reached 1.3160 before falling back down and it will probably fall further, given today's bearish start, with the 1.3018 lows now in focus. A decisive move below those would act as confirmation of a resumption of the down-trend down to 1.2900, the target from the head and shoulders pattern at the highs. Alternatively there is the possibility of a move higher back up to the range highs at 1.3160 and continued sideways activity.

Analysis By: Forex4you Analyst - Joaquin Monfort.

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 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

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 03:21 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.