|EUR/USD Under 1.2000 Today - Analysis July 23, 2012|
|EUR/JPY Intraday Technical Analysis|
The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.5530 suggesting a rebound. However, a break through this level will trigger a decline to the lower limit of1.5370.
Technical indicators do not provide clears signals, but until the support is not broken, the assumption of a rebound is most likely. 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 1.5530 with the 1st objective at 1.5590 and then at 1.5610. A break through 1.5510 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.
Analytical expert: Albert Fitoussi
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