Welcome Guest ( Log In | Register )

> 

Please do NOT post any website or blog links in this section, all links belong in your signature.

If you want to discuss a specific software or signal service, please visit that specific topic in this section.

 
Reply to this topicStart new topic
Eurusd Long-term Analysis - July 9, 2011
fxdamus
post Jul 10 2011, 02:14 PM
Post #1


New MoneyMaker
*

Group: Member
Posts: 24
Joined: 29-April 11
Member No.: 306,314



EURUSD Analysis - July 9, 2011
Forex Market Analysis | Written by ForexCycle.com | Saturday, 09 July 2011 04:41 GMT

EURUSD moved sideways in a range between 1.3969 and 1.4696 for several weeks. Lengthier consolidation in the range is still possible next week. The price action in the range would possibly be consolidation of downtrend from 1.4939, another fall towards 1.3000 would likely be seen after consolidation, and a breakdown below 1.3969 will signal resumption of downtrend. Key resistance is at 1.4696, only break above this level could indicate that the long term uptrend from 1.1876 (2010 low) is resume, then next target would be at 1.5500.

For long term analysis, EURUSD had formed a cycle top at 1.4939 on weekly chart. Further fall towards 1.1500 is possible in next several months.






--------------------
CashBackForex - FX Rebate
Home of Cash Back Forex. highly professional team.
http://www.cashbackforex.com/?aid=16352
Go to the top of the page
 
+Quote Post
Paid Advertisement
 
Go to the top of the page
 

Reply to this topicStart new topic
1 User(s) are reading this topic (1 Guests and 0 Anonymous Users)
0 Members:

 

Skin designed by IPB Forum Skins

FEATURED AD - NEW STATIC AD



Advertise on MMG Today!


Advertisement