empty
 
 
06.06.2012 09:54 AM
EUR/USD Intraday Technical Levels for June 6, 2012

This image is no longer relevant

Technical summary:

Wave ii of c became much stronger than we had expected and pierced the 61.8% corrective target at 1.5272 with a high at 1.5288. However, the rally in wave ii was followed by a break below a low of wave i at 1.5076 confirming wave iii lower to 1.4941 and later the ideal downside target at 1.4725.

In the short term, we are looking for resistance near 1.5134 for the next part of a decline towards 1.4941 on the way lower to the ideal downside target at 1.4725 to end wave c of the expanding flat correction.

Trading recommendation:

Our stop is at 1.5255 and we will stand aside for now.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback