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Disclaimer: This is my personal Blog, reflecting my very own views on Forex , shares and commodity tradings. As such, all informations provided here are barely for information purposes only,. The author should not be held liable for any errors, incomplete information, delayed messages, or for any actions taken in reliance on information contained herein.This blog is new, being established on 06,May.2010. While I am executing trades, posting will be sent simultaneously. The date/Time indicated here is of US Pacific zone(++15 Hours for Singapore/KL/Beijing, Or ++7 hours GMT)

Thursday, May 20, 2010

Technical Analysis on EURO/USD

Looking at the attached chart, we see that if the price action topping near the 1.2440-1.2460, then it may expose 1.2520 , then next 1.2620.(Note that 1.2440-1.2450 is also a previous swing level)

In view of the sign for the probable ECB support for the Euro is imminent, it now shows a very short term bullish trend, depending  how much support the EURO is getting.

If the price action below 1.2240-1.2260, then it may expose 1.2120 as immediate target


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