EUR/ USD Daily Technical Analysis 11 June 2012

Posts : 3 Join date : 2012-06-12

Dear all,

On sunday, The EUR/USD prices opened on a gap with a rising of 138 points the it continued its upward movement towards the 1.2667 level which is the top level of the upward channel where it faced a strong resistance. Then the Euro was trading at the 1.2630 level.

Today we expect the prices to test the 1.2603 level then should it breach down this level , the next target would be towards the 1.2585 level then it will decrease to the 1.25 level ,after that it will resume its upward movement and this is confirmed by the RSI, MACD and Stochastic indicators and the expected targets would be towards the 1.2706 level then to the 1.2795 level.

Nice trading all
Thanks
Source mbcfx.com