Friday, February 5, 2010

EUR-USD Technical Analysis - 05 February 2010

The pair keeps coming down breaking every resistant level that is set by the previous movement and in fact now it seems to be in minor oversold position. At this point everyone is wondering when it is going to stop falling down and make the correction move.

Time and again from the experience of the market movement prove that it might be stopping and making correction at the time when the Non-Farm Payroll economic data release today at 9.30 PM (+8 GMT Our Local Time). This analysis is based on previous historical experience the market will continue to move in its trending direction when there is significant news is ahead of it. Until the news is over then it might be corrected or continue again.

We will try to proof this theory again today see if it is working again as the way it used to be.!!
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1 comment:

Casey Stubbs said...

That is a good anaylsis, Hey I wanted to contact you but I could find your contact info anywhere?

I own a forex blog and I wanted to ask you a question my site is http://www.winnersedgetrading.com

My email is caseystubbs@gmail.com

Could you please contact me via email. It is in regard to a possible link exchange.

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