USD/CAD Wave Analysis July 19, 2012
EUR/NZD - Elliott Wave Analysis for July 19, 2012
News: 2012-07-19 07:00:15 UTC+00 10 months, 2 days, 18 hours, 20 min. ago
EUR/JPY Intraday Technical Analysis


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The spot rate is now testing the intermediate support of its medium term bearish channel at 96.40 suggesting a retracement. However, a break through this level will trigger a decline to the lower limit – 95.80.

Technical indicators do not provide clear signals but untill the support is not broken there can be a rebound. 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 at the level of 96.40 with the 1st objective at 97.20 and then at 97.40. A break through 96.20 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: 2012-07-19 07:00:15 UTC+00 10 months, 2 days, 18 hours, 20 min. ago

 
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