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FOREX: Technical analysis 11/09/12

09.11.2012

Market Review

EUR / USD

News background:

The pair continues to remain under pressure due to the situation around Greece and Spain reluctance to resort to financial aid. Another reason is the negative associated with the probability of a fiscal cliff in the States.

Technical picture:

From a technical point of view, a pair remains under pressure. There is a possibility of its local drop to the level of 1.2700, from which it seems to bounce up against the local resale. Currently, the pair is below the center line and lower boundaries Bollinger EMA 5 and 21.

LED Stoch. indicates the probability of further decline. RSI is below 50%, and demonstrates the possibility of a bounded reduction.

Trading recommendations.

Buy a couple of local level 1.2700 with likely target 1.2750-60.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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