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EUR/USD Intraday Technical Analysis

2012-07-04 12:59:28 (читать в оригинале)

 

The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.2560 suggesting a rebound. However, a break through this level will trigger a decline to the lower limit – 1;2400.

Technical indicators do not  provide clears signals but until the support is not broken the assumption of a rebound is most likely. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in a short term.

According to previous events the market will provide a bullish opportunity at the level of 1.2560 with the 1st objective at 1.2620 and then at 1.2640. A break through 1.2540 will alter this scenario.

The material has been provided by Instaforex Company - instaforex.com