Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Wednesday, February 8, 2012

EUR-USD Technical Anlalysis 2012.02.08

The EUR-USD cross is in a recovery move after the broad decline of the October-January period.

As the most recent correction move (labeled as B) has ended, there is a high probability to see further bullishness. The first target is in the 1.3390-1.3430 area, followed by the 1.3600 level.

However, the investors are watching closely the Greek debt plan news and this could move the market in either direction. If a correction is to come on the very short term (a few days) the T1 line is presumed to be a good support. 

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