EUR/USD: Technical Analysis
The EUR/USD is consolidating at the lows which might indicate a correction in prices. Wave analysis points to the possible completion of a cycle at the current lows and a rebound possible. Strong momentum convergences and an inverted H&S on RSI also indicate there may be a bounce, and 1.3000 provides the first target. The overall trend is still down, however, and it could resume at any time and if there is a break down it could target support in the 1.26s initially.
Analysis by: Joaquin Monfort
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.