Wednesday, October 29, 2008

forex EUR-USD Technical Analysis

This time i would like to discuss a short-term movement of the EUR-USD pair instead of the long-term as i usually did in the previous post. So!! As long as there is no interference from the fundamental factors, the pair will not make reversal anytime soon. And in fact there could be further down turns follow up.

Minor upward correction ideal point is limited up to 1.2831 as both the stochastic and MACD is moving upward direction as shown in the 4 hourly time frame. Therefore from that boundary the market will fluctuates gradually downwards if there is no interference from the fundamental data release. The space for further downwards movement is still open wide as the slow stochastic on the monthly time frame is still going down.

eur-usd charteur-usd technical analysis chartMarketiva Forex: Trade as low as $1 & FREE $5 + $10000 Virtual Practice Money

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