FXstreet.com (Barcelona) - Commerzbank analysts believe the EUR/USD heads towards 1.2597 (78.6% Fib) and the 1.2600 psychological area, though retaining the medium term bearish outlook while below 1.2705/48 (2011-2012 downtrend channel and June peak) on a weekly New York closing basis. At some stage the medium term downtrend should resume its course, though, a first sign of which will be a fall through Tuesday’s low at 1.2342”, wrote analyst Axel Rudolph.
Forex Flash: EUR/USD targets 1.2597 and 1.2600 - Commerzbank
Thu, Aug 23 2012, 07:07 GMT | FXstreet.com
EUR/USD May 23 at 08:13 GMT
1.2882/87 (0.20%)
H1.2889 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.
