The spot rate is currently testing the lower limit of its medium-term bullish channel at 1.6030 and seems to start a rebound. However a break of these levels would release a large downside potential and would initiate a bearish trend.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6030 with a 1st objective of 1.6120, then 1.6160. A break in 1.6010 would invalidate this scenario.
Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2011
http://instaforex.com/forex_analysis/25967/?x=OUE
Forex Trading TV-Video News Portal, Analysis Reviews and Economic Events Calendar News,-Channels include Forex-TV,Dukascopy-TV,ForexClub-TV,CNBC-TVLiveStream,Bloomberg-TV, Helping and guiding investors and managers to profit in Trading Forex,stocks,oil,gold,commodities.
No comments:
Post a Comment