Daily technical analysis of forex market July 13,2011
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The announcement at a meeting of European heads of state on Friday to save the Euro, and the redemption of debt by the ECB Italian and Spanish has allowed the market to recover. But will this be enough t- it to the extent that the financial rating of Ireland was damaged yesterday by Moody’s. Our advice this morning, since yesterday afternoon noon, the parity changes in a range between 4020 and 3950/45. the reversal of 1.40 generated a signal turning shy about 4 hours. Nevertheless, and in 30 mins, parity strengthens, not knowing very well whether it should go up or back down. 3950/45 is the area supports significant downward shift in 3940 and one is bearish for 3920 and 3880.
3980 is an intermediate to return to 4020. As long as we stay in- over 3950/45, the market should be held back and we could test 4080 for 4020/40. At the same time and in 4020, it is possible that we left to come back down to test 3950 and maybe 3920. We can play in the 3980 purchase and 3950 and 4010/20 on the decline. The stoploss will be on the fucking 4035/45 and 3930/20 the increase.
Last updated analysis:
Our area of strength this morning on 4020 was crossed with an accompanying bullish macd 30 mins in that the 4 hours. After being heckled Monday by concerns related to debt, the euro once more optimistic with the announcement of the meeting of heads of state on Friday. Our board of the post- noon, the trend is still bullish 30 mins. But the MACD is starting to return and possibly 4080 will be our highest was before, Mr. Bernanke at 16:00.
One might think that before his meeting with U.S. Senators, parity might store between 4020 and 4080, while 4050/45 would be intermediate support. On these levels, purchases may be made with stoploss of 4030 for a return on the high this morning 4080/70. But in 4045, then the price should come back to test the area before 4020 and 4010 3980. On the upside, and over 4080/95, we would like 4120 objectives. However if the 30 mins and crosses down, then it should be avoided to take long or keep shorts on the high.
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