Forex4you Technical Analysis 1st Feb 2011

EUR/USD: Technical Analysis

The "bullish" trend became dominating and the price rose to 1.3700. It's currently making attempts to hold at these levels. Such turn of events has been mentioned previously as a signal to the "bullish" trend, so there reasons to expect growth to targets above resistance level 1.3780/1.3800. Indicators are turning up, suggesting that that the "bulls" will eventually succeed. Growth to 1.3900/1.3990 is quite a possibility, although it's worth taking into account the strength of resistance at level 1.3800/1.3780.

http://www.forex4you.com/images/site/EUR010211.GIF


Analysis by: Forex4you.com written by Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.