FXstreet.com (Barcelona) - The EUR/USD is at a small rebound, slightly more bid in the range. “We view this as the market merely consolidating, but would allow for a return to 1.3025/45 near term”, wrote analyst Karen Jones, expecting failure there and attention to stay on the 1.2803/34 (200 day ma and October low). “Failure here would be viewed as negative, and target 1.2472/33 (61.8% retracement and downside measurement of the top 1.3177-1.2803)”, Jones added, pointing to initial supports at 1.2738 then 1.2605 (38.2% and 50% retracements) and resistance at 1.3025/84 ahead of the more important 1.3140/80 zone.
Forex Flash: EUR/USD bid to fail at 1.3025/45 - Commerzbank
Wed, Oct 31 2012, 12:27 GMT | FXstreet.com
EUR/USD May 25 at 04:13 GMT
1.2932/39 (0.02%)
H1.2940 L 1.2931
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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.
