Tuesday, January 6, 2009

Forex - eur/usd technical analysis

Exactly as expect based on technical analysis two weeks ago here... the pair is moving taking its correction to the right position where it should be. By right it should be going up until 1.4720 because the farthest it can go up to 1.3612. However rest be reminded again this is forex anything can happen as overbought/oversold is happening almost on daily basis.

So the long-term trend is opening up its path again to continue what has been walk through before. The advance target should be position right back to the bottom of 1.2358. However in the intermediate term this pair should be moving side ways within the range 1.3650 and 1.3347 as indicated on the candlestick chart below.

eur-usd monthly candlestick chart forexforex eur-usd weekly chart


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