forex software

Create and Test Forex Strategies

forex software

Skip to forum content

Forex Forum

Forex Software, Forex Strategies, Expert Advisors Generator

You are not logged in. Please login or register.


Forex Forum → Market Analysis → EUR/USD: still range-bound upside bias, Technical Analysis Liga Forex

Pages 1

You must login or register to post a reply

RSS topic feed

Posts: 1

Topic: EUR/USD: still range-bound upside bias, Technical Analysis Liga Forex

The EUR/USD pair continues moving within a range-bound consolidation which began on the 4th July. The exchange rate pulled back temporarily after spiking higher yesterday and almost reaching the range highs.
http://blog.forex4you.com/wp-content/uploads/2014/07/EURUSD15.png

Due to the fact that the mid-term trend is bullish, the pair will probably eventually breakout to the upside. There is, however, formidable resistance lying directly above from the 50-day MA and the 200-day MA at 1.3645 and 1.3675 respectively. Even if these obstacles are cleared the major trend-line drawn from the 2008 highs is situated at around 1.3695.

Therefore, for a strong continuation signal higher, I would want to see a break above 1.3715, confirming the clearance of the 2008 trend-line. This would then target the R1 pivot at 1.3760.

Analysis by: Liga Forex Analyst

Posts: 1

Pages 1

You must login or register to post a reply

Forex Forum → Market Analysis → EUR/USD: still range-bound upside bias, Technical Analysis Liga Forex

Similar topics in this forum