EUR/USD Surges Above 1.41 as Bernanke Talks Up Stimulus
By FXTimes
posted 18:22 07/13/11
| Signals Technical Analysis
 
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EUR/USD 1H chart 7/13/2011


- Bernanke’s testimony talks of stimulus and equities react positively.
- EUR/USD surges pass 1.41.
- 1.4220 area is next, A break above this level invalidates a bearish impulse wave count.
- The filling of the opening gap to this week can also invalidate the bearish outlook.
- The bearish outlook is towards 1.3750 to test a channel support shown in the daily charts.
- The bullish outlook is to 1.4370 in the short-term.

 

Information and opinions contained in this report are for educational purposes only and do not constitute an investment advice. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness. FXTimes will not accept liability for any loss of profit or damage which may arise directly, indirectly or consequently from use of or reliance on the trading set-ups or any accompanying chart analysis.

 
 
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