Technical analysis EUR/USD 25 February 2013

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Technical analysisThe speculation over the last comment on the possible correction confirmed. The price remained in the range between 1.3270 and 1.3160/50, touched the support level at 1.3140/45 during the mixed movements and returned to around 1.3230/40. Some indicators support the possibility of growth, but SS, that remains oversold, considers this rise as correction. I.e. there are no fundamental changes in the situation and the most likely short-term scenario considers consolidation in a sideways range between 1.3270 and 1.3140. There remain expectations that the pair could drop towards the 1.2990/80. If the price breaks above resistance at 1.3430/50 and fixes at this level, this may signal that the “bearish” trend gave way to renewed “bullish” trend.

EURUSD - 25.02.13

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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!