FXstreet.com (San Francisco) - EUR/USD climbed to an 8-week high of 1.2640 on Friday, but has since pulled back below the 1.2600 figure to current prices around 1.2575 ahead of the weekly close. According to Camilla Sutton, CFA, CMT, Chief Currency Strategist at Soctiabank, EUR/USD maintains a bullish profile in the near-term, “but risk/reward is skewed,” she says. “100-day MA providing resistance at 1.2584, a break above would open up a temporary test to the June high of 1.2743; support at 1.2366, 50-day.”
Forex Flash: EUR/USD bullish, risk/reward skewed - Scotiabank
Fri, Aug 31 2012, 19:23 GMT | FXstreet.com
EUR/USD May 23 at 20:29 GMT
1.2931/34 (0.57%)
H1.2958 L 1.2821
Advertisement
© 2013 “FXstreet.com. The Fore Market” All Rights Reserved. Every effort is made to provide accurate and complete information. However, with the thousands of documents available, often uploaded within short deadlines, we cannot guarantee that there will be no errors. Any republication or redistribution of FXstreet.com content is expressly prohibited without the prior written consent of FXstreet.com.
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.
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.
