FXstreet.com (Barcelona) - The week started and the EUR/USD performed an inside day on Monday, consolidating just below the next Fibonacci band at 1.3150/80 (61.8% retracement of the move seen in 2012). “We are cautious given the extent of the recent run up, but with technical indicators still positive, pressure remains on the topside”, wrote analyst Karen Jones, pointing to 1.3483/1.3540 (Fibo, this years high, 200 week ma)as target in case the pair breached 1.3180. Failure is expected at that resistance area. “The market will remain immediately bid above the 1.2829 200 day ma”, Jones added.
Forex Flash: EUR/USD consolidates below 61.8% Fib - Commerzbank
Tue, Sep 18 2012, 06:39 GMT | FXstreet.com
EUR/USD May 23 at 11:40 GMT
1.2884/85 (0.20%)
H1.2905 L 1.2821
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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.
