FXstreet.com (Barcelona) - Yesterday's inside day means a slight loss of upside pressure, allowing for some consolidation: “Dips lower are expected to find support at 1.3000/1.2995 ahead of key support at 1.2832/39 (200 day ma and uptrend)”, wrote analyst Karen Jones, expecting the challenge and break of 1.3173/80 (recent high and double Fibonacci resistance), confirmed by the daily technical indicators. “Above 1.3180 will introduce scope to 1.3487/1.3536 (2012 high, the 50% retracement and the 200 week ma)”, the Commerzbank analyst added.
Forex Flash: EUR/USD to consolidate before challenging 1.3173/80 - Commerzbank
Fri, Oct 19 2012, 07:13 GMT | FXstreet.com
EUR/USD May 19 at 19:51 GMT
1.2827/31 (-0.08%)
H1.2839 L 1.2819
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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.
