Forex4you - Analytics

    Forex4you

    536.00 7.00/10
    60% of positive reviews
    Real

    EUR/USD: v.short-term trend unclear but biased to down-side

       
    The very short-term trend on the 4-hr chart has reversed and turned bearish.

    It has broken below a trend-line and formed two lower lows and two lower highs.

    It will probably continue down towards the next support level situated in a zone between support and resistance at 1.1034 and the monthly pivot at 1.1002.

    If the exchange rate reaches this level, there is a strong possibility it will pause to consolidate and possible resume the broader up-trend.

    Given the confused analysis of the four lengths of trend, the fact they are out of sync, and the lack of space before support emerges at 1.1034 , I would not at this time advocate trading in the direction of the v.short-term trend.
    EURUSD05

       
    The very short-term trend on the 4-hr chart has reversed and turned bearish.

    It has broken below a trend-line and formed two lower lows and two lower highs.

    It will probably continue down towards the next support level situated in a zone between support and resistance at 1.1034 and the monthly pivot at 1.1002.

    If the exchange rate reaches this level, there is a strong possibility it will pause to consolidate and possible resume the broader up-trend.

    Given the confused analysis of the four lengths of trend, the fact they are out of sync, and the lack of space before support emerges at 1.1034 , I would not at this time advocate trading in the direction of the v.short-term trend.
    EURUSD05


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree