Forex Forums  

Go Back   Forex Forums > Forex Forums > Forex Forum

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 03-08-2013, 04:07 PM
Senior Member
 
Join Date: Mar 2012
Posts: 189
Arrow Forex Technical Analysis By Forex4you 08th March 2013

EUR/USD: Touching Key Resistance

Eurodollarís strong upswing yesterday has reached resistance at the trend-line for the move down and begun consolidating. It needs to break through this line to establish a bullish reversal and if it moves decisively above 1.3020 then it could provide the signal with a target at 1.3260. This morning we have seen some weakness, however, and it is possible it will continue correcting to around 1.3050, although heavy support in the 1.29s obstructs more downside.



USD/JPY: Bullish Breakout

The USD/JPY has resumed its up-trend and broken out of the range that it has been consolidating in for the past few weeks. The rally currently looks unstoppable and it will probably continue higher, at least to the monthly pivot at 96.25 but probably higher to the 98.15 target, generated by extrapolating the width of the consolidation higher. If there is a pull-back, however, it will probably fall to support from the top of the range at 94.50.



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,
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 04:31 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.