EUR/USD Technical Analysis for Friday, August, 31st.2012 by MBCFX
, welcome to MBCFX daily
Market Analysis. TODAY IS Friday, August 31, 2012.
We notice on the daily chart that the Euro USD prices are still trading within an ascending channel, but it have retreated when it faced a strong resistance at the top line of the channel , and also faced a second resistance at the Fibonacci level of 176.4%
Today we expect a slow trading on the Asian and European sessions because the traders are waiting for the speech of the Federal Reserve Chairman Ben Bernanke later today, and his decisions will determine the market direction.
We also expect, on this steady trading of the prices, that the outlook of the market would remain more bearish than bullish, and it would decrease to the main support level of 1.2475, ahead of Ben Bernanke decisions to see its effect on the movement of the market .
SO: We advice our dear traders to follow us on Facebook and Twitter, in order to receive the economic and fundamental news of the market, especially Ben Bernanke decisions and its effect on the movement of the market .
That is all for the news of this morning, for more
info or further technical analysis, please visit our website on:
Or contact us
[link removed]
, welcome to MBCFX daily
Market Analysis. TODAY IS Friday, August 31, 2012.
We notice on the daily chart that the Euro USD prices are still trading within an ascending channel, but it have retreated when it faced a strong resistance at the top line of the channel , and also faced a second resistance at the Fibonacci level of 176.4%
Today we expect a slow trading on the Asian and European sessions because the traders are waiting for the speech of the Federal Reserve Chairman Ben Bernanke later today, and his decisions will determine the market direction.
We also expect, on this steady trading of the prices, that the outlook of the market would remain more bearish than bullish, and it would decrease to the main support level of 1.2475, ahead of Ben Bernanke decisions to see its effect on the movement of the market .
SO: We advice our dear traders to follow us on Facebook and Twitter, in order to receive the economic and fundamental news of the market, especially Ben Bernanke decisions and its effect on the movement of the market .
That is all for the news of this morning, for more
info or further technical analysis, please visit our website on:
Or contact us
[link removed]
