Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.
FXstreet.com (Barcelona) - Having traded through the 55 month moving average at 1.3564 and the top of the daily channel at 1.3590, Commerzbank analysts need to see a weekly close above here to confirm the break, but acknowledge while above the short term uptrend at 1.3425 the market is bid. “Nearby support is 1.3435 – below here lies 1.3250 and then the base of the channel at 1.3170”, wrote analyst Karen Jones. “Key support is 1.3086 – the 6 month uptrend.Note should a close above 1.3564 be seen (we would need a weekly close above here), we have very little resistance of note until 1.3833, the 61.8% retracement of the move down from the 2011-2012 move”, Jones added.