empty
 
 
15.08.2012 11:45 AM
EUR/USD Intraday Technical Analysis

This image is no longer relevant
 

 

As we predicted yesterday, the spot rate declined and reached its support at 1.2320. It made a rebound and approached the upper limit of its channel to 1.2380. A break of these levels would free up a significant potential and initiate a new trend.
Technical indicators do not provide clear signal but until the resistance is not broken, the assumption of a decline is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement. Moreover, the superior band strengthens the upper limit of its channel suggesting a more violent movement in case of break.
The spot rate tests its resistance that is why we recommend 2 scenarios: the first one suggests the probability of a decline, then we recommend a sell on the level of 1.2380 with the 1st objective at 1.2320 and then at 1.2300. A breakthrough 1.2400 will invalidate this scenario. The second scenario is the hypothesis of an exit of its channel; in this case we recommend a “buy stop”. We advise to buy the spot rate as soon as it is broken through its resistance of 1.2380 with the 1st objective at 1.2440 and then at 1.2460. A breakthrough 1.2360 will invalidate this scenario.

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $10000 más!
    ¡En Enero, sorteamos $10000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback