Daily Forex Analysis ? May 4, 2011

EURUSD Analysis. Being supported by the price channel on 4-hour chart, EURUSD rebounded from 1.4754, suggesting that a cycle bottom is being formed. Now the bounce from 1.4754 would possibly be resumption of uptrend from 1.4157. further rise would likely be seen later today, and next target would be at 1.5000. Only a clear break [...]

Source: http://blog.forexcycle.com/6305/daily-forex-analysis-may-4-2011/

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