Technical analysis
Mohamed Samy
Yesterday, EUR/USD retraced only towards 1.3235 under the effect of decrease of risk apetite of investors after the bad news announcements.
Then we had the US news as Fed announced it kept monetary policy unchanged leaving rates at record lows for 36th month in a row.
Then we had the US news as Fed announced it kept monetary policy unchanged leaving rates at record lows for 36th month in a row.
Technically, the pair managed to break 1.3150 the most prominent support level reaching 1.3000 so easily and quickly.
Break of the psychological support level 1.3000, will open the way for 1.2876 which is 2011's low recorded last January.
The nearest resistance levels are located at 1.3150, 1.3225 then 1.3300.
For those who took trades on break of 1.3150 should take some profits and wait for the next target at 1.2880.
For the rest of traders, they should stay out of the market until it revisits one of the resistances above or it establishes an intraday support level to take advantage of the possible retracements.
http://instaforex.com/forex_analysis/45947/?x=OUE
No comments:
Post a Comment