Short Term Analysis – September 12, 2007

20070912_eurusd_1.gifEURUSD is testing the previous high resistance at 1.3851, further rise above this level to reach the next cycle top on daily chart is still possible in a couple of days, and sideways consolidation can be seen after breaking above this level. Near term support is at the up trend line from 1.3360 to 1.3550, and followed by 1.3550, only break below 1.3550 level will signal the reversal to the up trend. For long term analysis, EURUSD is in sideways consolidation to the long term up trend and will move without trend in a range between 1.3262 and 1.4000. Up trend will resume after consolidation and rise towards 1.4300 to reach the next cycle top on weekly chart is still possible.

Please click the following links for more short term and long term forex analysis.


Forex Articles
Forex Reviews

Want to be sponsor