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Forex4you Technical Analysis 10 Feb 2012

EUR/USD: Technical Analysis

The price failed to hold above 1.3300 level, so the price stayed within 1.3300- 1.3250 consolidation range. Trading is currently carried out at 1.3270/80 level. Indicators are neutral, suggesting further range trading with a possible extension of current consolidation range down to 1.3200/1.3190 levels. At the same time, the uptrend is still considered to be dominating and growth to 1.3420/30 targets is also possible. 1.3040/00 support breakout will indicate a medium-term reversal to a downtrend.

Analysis by: Joaquin Monfort

Forex4you analyst

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