EUR/USD forecast July 23, 2012, Technical Analysis
Add a comment
Technical Reports
To learn more click here
EUR/USD pair fell during the Friday session, to test the recent lows at the 1.2150 level. This bearish candle smashed through three hammers and a doji in one sudden move. This suggests to us that the bearish case continues, and the momentum will certainly continue into next week. We think anything remotely looking like a rally should be sold at this point as the sharks will certainly have smelled blood in the water.
The recent bearish flag suggested a print of 1.15 before the move stopped, and we see absolutely no reason why I won’t happen now. With the Spanish bonds suffering, and now they’re Italian cousins doing the same, we suspect the selling of the Euro continues well into next year. A break of the Friday low has us adding to our short position, as does any rally that fails. There is absolutely no reason to buy the Euro at this point.
EUR/USD forecast July 23, 2012, Technical Analysis
EUR/USD Forecast May 24, 2013, Technical Analysis
AUD/USD Forecast May 24, 2013, Technical Analysis
USD/JPY Forecast May 24, 2013, Technical Analysis
Gold Prices May 24, 2013, Technical
Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.
View all of FX Empire Analyst - Christopher Lewis's Articles
