EUR/USD Forecast September 4, 2012, Technical Analysis
Add a comment
Technical Reports
To learn more click here
The EUR/USD pair rose slightly during the Monday session as the volume simply wasn’t there. The Labor Day holiday in the United States Volumes to a minimum, and as such the day could almost be written off. While the candle was positive, it still been break the top of the range for Friday.
The reason this is significant is that the top of the range for Friday started to really approach the massively resistive 1.27 level. Until that level gets taken out to the upside, we aren’t comfortable going long of the Euro as there are far too many reasons why it could fall. As far as buying the Euro is concerned, we need to see 1.27 taken out on a daily close to consider it at this point in time. Until then, we are very flat of this market and looking for weak candles from which to sell. If we can get below the 1.24 level, we think this pair could fall the way back down to 1.20 before running into massive support again.
EUR/USD Forecast September 4, 2012, Technical Analysis
EUR/USD Forecast May 24, 2013, Technical Analysis
USD/JPY Forecast May 24, 2013, Technical Analysis
Gold Prices May 24, 2013, Technical
AUD/USD Forecast May 24, 2013, Technical Analysis
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
