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  • Forex4you Technical Analysis 18 Jan 2013 0 comments
    Jan 18, 2013 6:01 AM

    EUR/USD: consolidating under resistance

    The EUR/USD pair is consolidating after re-touching the 1.3400 highs. There is a lot of overhead resistance and it will probably fall temporarily with a target at the range lows at 1.3250. Eventually the bull-trend will probably re-assert with a decisive break above 1.3410 leading to a continuation up to 1.3490. There is substantial resistance from the 50-month and 200-week MA's around 1.3520, which could stall further progress.

    (click to enlarge)

    Analysis by: Joaquin Monfort

    Forex4you analyst


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