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FOREX: Technical analysis 09/19/12

19.09.2012

Market Review

EUR/USD

News background:

The pair continues to be corrected slightly after strong growth in anticipation of the Fed decision. It has already rolled back by 23% Fibonacci, and if it can hold above the 1.3000 level, it can get the potential for local growth.

Technical picture:

From a technical point of view, the pair is in the lower Bollinger below MA 5 and MA 21.

Oscillator Stoch. out of the oversold area. The RSI signals the continuation of the correction, but it shows its suspension.

Trading recommendations. If the pair will stay above 1.3000, we buy it from the local to 1.3350.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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