USD/JPY Ready to push Lower - Analysis for July 4, 2012
AUD/USD Above 1.0350 Today - Analysis for July 4, 2012
News: 2012-07-04 08:59:28 UTC+00 10 months, 2 weeks, 5 days, 7 hours, 1 min. ago
EUR/USD Intraday Technical Analysis


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The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.2560 suggesting a rebound. However, a break through this level will trigger a decline to the lower limit – 1;2400.

Technical indicators do not  provide clears signals but until the support is not broken the assumption of a rebound is most likely. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in a short term.

According to previous events the market will provide a bullish opportunity at the level of 1.2560 with the 1st objective at 1.2620 and then at 1.2640. A break through 1.2540 will alter this scenario.

Albert Fitoussi is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.

Performed by
Analytical expert: Albert Fitoussi
InstaForex Group © 2007-2013
 Published: 2012-07-04 08:59:28 UTC+00 10 months, 2 weeks, 5 days, 7 hours, 1 min. ago

 
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