Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Forex4you Technical Analysis 12 Feb 2013

EUR/USD: consolidating on support

The pair continues to consolidate on top of support from the trend-line and the monthly pivot. Activity today has been mainly bearish although it is now turning up, and a break above 1.3470 could trigger further upside to perhaps the 1.3715 highs. Alternatively a decisive break of the 1.3350 lows would indicate the trend-line had given way with a new target down at support at 1.2950.

Analysis by: Joaquin Monfort

Forex4you analyst

Disclaimer:

Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.