Technical analysis EUR/USD 31 January 2013


Growth on this pair, as expected, has continued, but on the way to the next target – the level of 1.3600, the price has met resistance and now it is around 1.3550/60. In this case, topicality assumptions of  last comment that the retreat from 1.3560 or 1.3600 has announced the beginning of the next rollback, which may be either the start of a turn, and another prolonged correction. Indicators remain testimony on the “bullish” extension, which could mean continued growth, and if that happens, there will be good reasons to identify the following objectives in the price range 1.3700/1.3800. At the same time, the power levels  the pair increased to , can trigger the growth arrest and even deploy upward trend. In this situation, there is a a high probability of false punctures of  barriers at 1.3600. It is possible that the “bulls” will make one more thrust upwards, will mark slightly above this level, and only then the expected decrease will begin.

EUR/USD - 31.01.13


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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!