EURUSD continues to form the the side correction

0

After another  strength test of  1.3180/90 support, the price went back to 1.3280/90 resistance and now tests the reliability of the level. The indicators do not show a clear signal that let us suggest the continued market uncertainty. However, the previously made ​​assumptions about the likelihood of raising prices to the 1.3360/70,  level  where the “bull” trend may end, remain relevant. However, if the trade fall under 1.3050/60 support and consolidate below, there would be a good reasons to think about the beginning of the “bearish” medium-term trend.

EURUSD - 02/01/13

Share.

About Author

Hello, my name is Arkady Nagiev and I’ve been working for Forex4you company since 2008. I received an economic education and worked in various sectors of former Soviet Union. After the dissolution of the USSR, I decided to engage in the banking sector. In 1994 I took "Banking" course in the Moscow International Financial and Banking School. After that, I worked in the banks of Turkmenistan and Ukraine. While working at the bank, I became interested in the foreign exchange market, which required additional knowledge and pushed me to study strategies and techniques for the analysis of foreign exchange instruments. At first, I thought that technical analysis would be enough, but I soon realized that I was wrong, and began to study fundamental analysis. I sincerely hope that my Forex reviews and financial analyses help our clients to gain a better understanding of the forex market. Good luck with your trading everyone!