FX.co ★ The market manipulations analysis of the EUR/USD by Alexey Portnov for 07.02.2011

After a considerable growth the euro started to decline relative to the recent uptrend, therefore we see a correction model, formed by news released during the first week of the month. At the moment the price is testing the supply zone near 1.3625-70. I suppose that the price will continue its growth near the supply zone; further development depends on the exit out of this zone. If the price manages to fixate above it a growth should be expected, if it fixates below – a decline.

Trading recommendations:

Correction inside a correction - no trading recommended