Hi All,
This is my first Forex analysis on EUR/USD, please kindly give me some advice to improve.
Thank you very much.:smart:
This week EUR/USD has rebounced to the strong resistance at 1.4911 after hitting the 3-month low at 1.4630. However, it could not break above this strong resistance level and retraced back to 1.4773. In the short term, we expect EUR/USD will first test the 61.8% retracement level at 1.4740. And it would trades within the range of 1.4740 to 1.4800 before US announced the key housing statistic on Monday.
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This is my first Forex analysis on EUR/USD, please kindly give me some advice to improve.
Thank you very much.:smart:
![20080823+eurusd.gif](/proxy.php?image=http%3A%2F%2F1.bp.blogspot.com%2F_Xw9fly5mWmM%2FSK_WROIvRlI%2FAAAAAAAAAAc%2FHNbH4GBlp-I%2Fs320%2F20080823%2Beurusd.gif&hash=d502e4c8203076a3610b86aa6fb595f8)
This week EUR/USD has rebounced to the strong resistance at 1.4911 after hitting the 3-month low at 1.4630. However, it could not break above this strong resistance level and retraced back to 1.4773. In the short term, we expect EUR/USD will first test the 61.8% retracement level at 1.4740. And it would trades within the range of 1.4740 to 1.4800 before US announced the key housing statistic on Monday.
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