Forexpros Daily Analysis - 04/05/2011

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ForexPros Daily Analysis May 04, 2011


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Eur/Usd Towards 1.49 and Above

Slow, choppy waves don't change outlook here, which is still bullish with prices trapped in a corrective formation, labelled as a wave iv). As such, wave five targets are still in view around 1.495 followed by 1.5, once 1.49 is out. Bullish trend remains intact as long as the pair trades above the channel support line and 1.4645 critical region.

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Forex Trading analysis written by Gregor Horvat for Forexpros.

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New on Forexpros, the Fibonacci Calculator!

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