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EUR/USD Intraday Technical Analysis

2012-10-07 11:28:48 (читать в оригинале)

 

 

The spot rate is currently testing the intermediate support of its medium-term bullish channel at 1.3010 suggesting a rebound. However, a break of these levels will reach the lower limit of its channel at 1.2960.
Technical indicators provide buy signals and 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 the short term.
The spot rate is currently testing the intermediate support of its channel, we suggest 2 scenarios: the first one is the hypothesis of a rebound where we recommend a buy on the level of 1.3010 with the 1st objective at 1.3070 and then at 1.3090. A breakthrough of 1.2990 will invalidate this scenario. The second scenario is a break of its support where we advise a “sell stop” which means to sell the spot rate as soon as it is broken through its support of 1.3010 with the 1st objective at 1.2960 and then at 1.2940. A breakthrough of 1.3030 will invalidate this scenario.

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