Technical analysis EUR/USD 30 January 2013


Price growth has resumed and the couple performed the first condition of growth scenarios, as mentioned in previous comments – rose in the range of 1.3500-1.3600. The pair is trading around 1.3530/35. Indicators show strong preferences of increase, which could signal a further increase. The first obstacle on the way of “bulls” is the 1.3550/60 level and the 1.3600 is the next. If the data of resistance does not stop the upward trend, it will be a strong signal that in the future we can expect the pair rise to the 1.3750/1.3800 levels. Break out from 1.3560 or 1.3600 will announce the beginning of the next rollback, which can be either the start of a turn, and another prolonged correction.

EURUSD - 30/01/13


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!