FXstreet.com (Barcelona) - Commerzbank analysts point to a downside target at 1.1934 after breaching below the immediate support of 1.2288 (June low) and 1.2054 (200-month MA). “It is quite common for market to ‘return to point of break out’ from these patterns. The previous triangle support at 1.2444 should now offer immediate resistance and the market will be immediately offered below 1.2535”, wrote analyst Karen Jones.
Forex Flash: EUR/USD return to “point of break out” likely - Commerzbank
Mon, Jul 09 2012, 06:30 GMT | FXstreet.com
EUR/USD May 22 at 02:47 GMT
1.2922/23 (0.12%)
H1.2940 L 1.2905
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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.
