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) - The EUR/USD is expected to find resistance after the rally seen to the 50% retracement at 1.2900 yesterday, alongside with the 55 day ma at 1.2911. “While the latter caps, a negative bias will persist and leave the 1.2661 current November low still in view”, wrote analyst Karen Jones, neutralizing the immediate outlook once above 1.2911/60 and allowing for a run up to 1.3021/37. “We continue to view the 1.3173/80 resistance as an interim high”, added the Commerzbank analyst. “Failure at 1.2661 will push the symmetrical triangle downside measured target at 1.2483 to the fore”, Jones said, pointing also to 1.2474, the 61.8% Fibonacci retracement of the move up from July, while initial support is seen at 1.2607.