FXstreet.com (Barcelona) - The downside focus is the 1.2890/36 support (200 day ma and uptrend): “The 200 day ma has been the focus of a lot of attention recently and we would allow for this to hold the initial test”, wrote analyst Karen Jones, expecting a negative reaction in case of a failure there. “It should be noted that we are viewing the pattern more negatively it looks more like a potential top than a continuation pattern at this stage”, Jones added, pointing to targets at 1.2738 and 1.2605 (38.2% and 50% retracements) past a break of the 200-day MA. Resistance is at 1.3030/84 ahead of the more important 1.3140/80 zone.
Forex Flash: EUR/USD pattern viewed more negatively - Commerzbank
Thu, Oct 25 2012, 07:25 GMT | FXstreet.com
EUR/USD May 19 at 19:21 GMT
1.2828/36 (-0.06%)
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.
