FXstreet.com (Barcelona) - As the EUR/USD regresses and consolidates at 1.2417 (55-day MA), Commerzbank analysts expect the pair to test 1.2513 and fail there. “We note however it is possible that the market has completed a small inverse head and shoulders pattern and the rally will extend to 1.2748, the June high”, wrote analyst Karen Jones, bearish while 1.2800 caps. “Dips will find support at 1.2290/1.2325 near term ahead of 1.2042 the recent low”, Jones added.
Forex Flash: EUR/USD consolidates at 55-day MA, 1.2417 - Commerzbank
Tue, Aug 07 2012, 07:02 GMT | FXstreet.com
EUR/USD May 23 at 15:09 GMT
1.2905/07 (0.37%)
H1.2922 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.
