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Long Term Forex Analysis
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EURUSD rebounded from 1.4626 level
Sat, Nov 7 2009, 05:12 GMT
by Franco Shao
After touching the lower border of the rising price channel on daily chart, EURUSD rebounded from 1.4626 level. The rise from 1.4626 is more likely resumption of uptrend from 1.3748, another rise towards 1.5200 is now in favor. Key support level is located at 1.4626, fall below this level will indicate that the uptrend from 1.3748 has completed at 1.5062 already, then the following downtrend could take price back to 1.4000 area.
For long term analysis, EURUSD remains in long term bullish movement from 1.2456, further rise is still possible to 1.5200-1.5500 area. However, a break below 1.4484 key support will indicate that a long term cycle top has been formed on weekly chart.
Published on Sat, Nov 7 2009, 05:12 GMT
Archive
- EURUSD rebounded from 1.4626 level
Published On Sat, Nov 7 2009, 05:12 GMT - EURUSD pulled back from 1.5062
Published On Sat, Oct 31 2009, 15:13 GMT - GBPUSD broke above the falling trend line
Published On Sun, Oct 25 2009, 01:09 GMT - EURUSD broke above 1.4843
Published On Sat, Oct 17 2009, 04:10 GMT - USDJPY's downtrend from 97.78 extended further to as low as 88.01
Published On Sat, Oct 10 2009, 04:45 GMT
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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