Forex Forum to Share, Discuss, Communicate and Trade Forex

Forex4you Technical Analysis 4 Sep 2012

Discuss Technical Analysis for various currency pairs and share your views. You may also like to check our Forex technical analysis and Forex forecast sections.

Forex4you Technical Analysis 4 Sep 2012

Postby albie » Tue Sep 04, 2012 11:43 am

EUR/USD: Technical Analysis

The EUR/USD is still in a counter-trend rally. It is unlikely to be the start of a new trend higher and therefore will probably roll-over. Currently there is a possibility the pair could be starting a move down to 1.2550. If it goes below there it would constitute a break of the neckline of a double top pattern and target 1.2475. If the trend continues tracking higher, however, it could also reach resistance from the upper channel line at 1.2650.


Analysis by: Joaquin Monfort
Forex4you analyst

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.
Posts: 12
Joined: Thu Oct 28, 2010 11:01 am

Return to 2+1 = 3 - Technical Analysis Discussions


Who is online on Forum

Registered users: Alexa [Bot], Baidu [Spider], bestfxvps, Bing [Bot], Google [Bot], Google Adsense [Bot], Majestic-12 [Bot], Yahoo [Bot]