Forex4you Technical Analysis 6 June 2011

[forex4you]

EUR/USD: sideways move
The EUR/USD is consolidating within a persistent uptrend. Currently it is attempting to break down lower. The next target down would be 1.4555. If, however, it recovers then I would expect it to reach the top of the range at 1.4660 – with a breakout potential to 1.4705. The smallest P&F chart is also showing a count lower to 1.4550. The 0.001x3 meanwhile is showing an upside target of 1.4820. One possible interpretation of ths mix is that there will be a pullback to support at 1.4550 before the overall uptrend resumes and goes to 1.4700.



Forex | 外匯
Analysis by: Joaquin Monfort
Forex4you analyst

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