EURUSD Technical Analysis Fri, 17 May 2013

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May 172013
 
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4XEagleEye Chart

2013.05.17 [Forex1 | Euro vs US Dollar] We believe that possible bearishness could be seen during this trading session. Immediate resistance is at (1.3038). Close above that area could lead us to neutral zone as direction would become unclear, but as long as price moves below that level the major scenario remains bearish.You may try to sell from (1.2929), (1.2971), and (1.3013) with a stop loss above (1.3038).

Market Snaphoot 1Market Snaphoot 1 Market Snapshots


Summary
Direction
Moving Avg.
Indicators. 		65%
Reversal Prob. 		Oscillator Candle

Bullish

Harmonic

1.2929 1.2971 1.3013 1.3054 1.3096
1.2847 1.2805 1.2764 1.2722 1.2697
Hourly Alerts
MA Penetrated 8 hours ago EURUSD has closed below 50 SMA. This reflects supply forces victory on short term technical outlook.
MA Penetrated 9 hours ago EURUSD has closed above 30 SMA. This should empower bullish short term technical outlook.
Stochastic Oversold 14 hours ago EURUSD Stochastic (14) Main line has crossed above Signal line while both lines been below 20. This is a probable short term bullish turning point.
Copyrights: FX Eagle Eye is a combined efforts for the JV between letsfx.com and 4XEagleEye.com

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