empty
 
 
10.05.2013 08:38 AM
EUR/USD technical analysis for May 10, 2013
Pivot point: 1.3129.
This image is no longer relevant
Overview
It should be noted that the market was stable and the trend was also so clear (downward and a range equals 166 pips). Amid the latest events the price has still been trapped between 1.3030 and 1.3385 so it is of the wisdom to be neutral at this area. Therefore, the first step is waiting for a period of tight sideway range market before breakouts. Then, there is a probability that the market is going to start showing the signs of the bullish market (explosive breakout is expected). In other words, it will be a good sign to buy above 1.2920 with a first target of 1.3015 and price breakout and it will climb towards 1.3075. However, If the the pair breaks 1.3130 and closes below it, the market will indicate a bearish opportunity below 1.3130, and then the support will become a resistance. So, it will a good sign to sell below 1.3130 with a first target at 1.3050 and it will call for a downtrend in order to continue the bearish towards 1.3000 in order to form new double bottom at this level. Moreover, if the trend could break the double bottom, the market will probably continue a bearish trend towards the weekly support 2 at the level of 1.2920.
Summary
Urgency
Analytic
Mourad El Keddani
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback