FXstreet.com (Barcelona) - The overnight sharp decline to 1.2242 low obtained in early European morning was triggered by the Bundesbank’s unchanged stance on the revival of the ECB bond buying program. According to TD Securities analysts, bouncing movements should find strong resistance at 1.2330: “Strong resistance near 1.2330, not only from recent July high water marks, but also from the 2008 low (marked in Oct. at 1.2329), should continue to cap gains in the near term”, they wrote, open to a break to a leg higher, but still with bearish bias on the EUR/USD.
Forex Flash: EUR/USD with resistance at 1.2330, bearish bias – TD Securities
Fri, Jul 27 2012, 13:46 GMT | FXstreet.com
EUR/USD May 23 at 12:15 GMT
1.2890/91 (0.24%)
H1.2905 L 1.2821
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
