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Old 01-03-2013, 04:53 PM
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Arrow Forex Technical Analysis By Forex4you 3rd January 2013

EUR/USD: Possible Breakdown

There has been a break down out of the price pattern at the highs and whilst the pair has recovered, it is probable a trend reversal down may be happening. The monthly pivot at 1.3115 underpins support and would have to be decisively breached to give a stronger bearish signal, with a target first at 1.3080, and then 1.3015. Alternatively it would require a break back above 1.3195 to re-establish a bull trend with the range highs at 1.3300 then targeted.

GBP/USD: Downtrend Progressing

Cable is currently falling after making a high yesterday, when it formed a bearish pin-headed shooting star; the high volume may also have signaled short-term exhaustion. It has now temporarily broken below the monthly pivot at 1.6185 and it will probably fall further to minor support at 1.6100 and then perhaps 1.6040. We would have to see a break above 1.6215 for the up-trend to resume, targeting the 1.6270 level.

Analysis By: Forex4you Analyst - Joaquin Monfort.

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Old 08-01-2013, 10:31 AM
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