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FOREX: Technical analysis 09/13/12

13.09.2012

Market Review

The news background:

The pair's growth paused in anticipation of the results of the fed meeting on monetary policy, and therefore there may be a slight correction of the pair to the level of 1.2815.

Technical picture:

From a technical point of view, a pair rose and now it's locally overbought. The price is for the Upper Bollinger and above MA 5 and MA 21. It is possible that today before the Bernanke's speech pair will decline to the level of 1.2815, which is, according to the situation, will continue to grow.

Oscillator Stoch. came out of the overbought zone and points to the possibility of decline. The RSI exits from the overbought, confirming the Stoch signal.

Trading recommendations. We act according to the situation, depending on the decision of the Fed decision.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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