EUR/USD Technical Analysis (Euro / US Dollar)

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February 6, 2013 2:24 AM EST

Updated the:
EUR/USD : Super Mario effect still works!

Sentiment :



--- Follow up analysis ---
Big bearish session yesterday for the pair EUR/USD. From 1.3650, the price has first felt towards 1.36 to validate a break out of its  short term bullish slant (orange line).
The bearish rally has continued and the price has now validated a return below 1.35 this night, giving us a sell signal. This morning, the price is trying to find support on the parallel line of its previous medium term uptrend channel (dotted brown line).

I advise traders to trade now only short positions as far as the price will be located below 1.3550
A stay below 1.35 would consolidate this bearish sentiment.
The downward breaks of 1.3450 and 1.34 would offer for new sell signals for an extension of the downtrend. At the break of 1.3450, the price should also validate the break of the parallel line of its last uptrend channel.

In case of return above 1.3550, a buy signal will be given. Traders could then trade only long positions.
Full analysis

Analysis published by Vincent, the 02/05/2013 at 09h30 GMT+2

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