|GOLD Intraday Technical Analysis|
|EUR/USD Intraday Technical Analysis|
Now the spot rate is testing the upper limit of its medium term bearish channel at 1.5670 and is probable to descend. Still a puncture of these levels will provide a potential and initiate a violent bullish trend.
Technical indicators provide buy-signals but approaching overbuy zone supporting the assumption of a decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement
According to previous events the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 1.5670 with the 1st objective at 1.5730 and then at 1.5750. A break through 1.5650 will invalidate 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.
Analytical expert: Albert Fitoussi
|InstaForex Group © 2007-2013|
|Recommend: Forex Analytics|
EUR/JPY technical analysis for May 23, 2013
2013-05-23 05:52:43 UTC+00 12 min. ago
|Views today 586|