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Long Term Forex Analysis
EURUSD is testing 1.5342 key support
Sat, May 3 2008, 04:58 GMT
by Franco Shao
EURUSD is testing 1.5342 key support, consolidation will more likely be seen before breaking below this level, and rebound to 1.5650 area is expected. Key resistance is located at 1.6019, only break of this level will signal resumption of the long term up trend.
For long term analysis, EURUSD is in long term up trend. Long term key support is located at 1.5342, a break of this level will indicate that the up trend from 1.4309 (Dec 20, 2007 low) has completed, and pull back to 1.4500 area is expected to follow.
Published on Sat, May 3 2008, 05:01 GMT
Archive
- USDCAD is in consolidation to up trend
Published On Sat, Sep 6 2008, 02:50 GMT - EURUSD is test the support of the up trend line
Published On Wed, Sep 3 2008, 02:10 GMT - USDCHF traded in range between 1.0842 and 1.1084
Published On Sat, Aug 30 2008, 00:58 GMT - GBPUSD's down trend remains
Published On Wed, Aug 27 2008, 01:40 GMT - USDCAD broke below 1.0543 key support
Published On Sun, Aug 24 2008, 02:05 GMT
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Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.
Risk Disclosure: 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 invest in 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.
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