Thursday, 7 February 2013

Technical Analysis Of EUR/USD on 07/FEB/13

Tecnical Analysis - EUR/USD carries on consolidating just above1.3469 level. According to technical indicators, an extended rally from this level in the short run is unlikely, being that in the longer term there is a significant risk of a reversal. Still, the positive outlook will remain as long as supports at 1.3408 and 1.3293 are intact.

 Wave Analysis - EUR/USD in [a],[b],[c] (yellow) corrective wave pattern. In this corrective wave pattern wave [a] in yellow end @ 1.3450 level. I am looking for wave [b] and [c].

Trader Sentiment - In one of the popular sentiment index, as the share of LONG position stands at 42% and the portion of shorts at 58%.

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