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EURUSD - Free Forex Market Analysis

In FREE Forex Market Analysis section, we'll provide forex market traders mid-term technical analysis of major currency pairs. But first of all, you should go to FAQ page to read the expression of the signs and words that appeared on the forex market analysis charts. You may join our yahoo group if you want to receive the update alert immediately after the analysis had been posted. For daily forex analysis, you can subscribe our Short-Term Forex Market Analysis, now you can get it at no charge.

Wednesday, September 6, 2006 at 03:23 GMT

EURUSD formed a side ways consolidation in a range between 1.2695 and 1.2937 in the last 4 weeks. We treat this consolidation as correction to the up trend. Further rise above 1.2937 previous high can be expected after this consolidation. Key support is still at 1.2725, only break below this level may delay the resumption of the up trend. Key resistance is at 1.2937, up trend would resume after breaking above this level. For long term analysis, EURUSD is treated as in long term bullish movement, and this bullish movement would last for several months, the target would be above 1.2978 (the day high of June 5).

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