FXstreet.com (San Francisco) - According to RBS, the S&P 500 index is “heading into a strong resistance area between 1,405 and 1,412 composed of the May high and 200% Fibonacci retracement from the Oct – Nov 2011 selloff on a continuation chart,” and says that “If a close below 1,389 occurs, the move will be likely to continue to the 1,357/1,351 support area, where the 161.8% retracement from the same move and 100-day MA both lie.” At the time of writing, S&P 500 is down 2.29, or 0.16% at 1,400.51.
EUR/USD Jun 19 at 18:52 GMT
1.3291/91 (-0.76%)
H1.3418 L 1.3279
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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.
