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

Forex4you Technical Analysis 29 May 2012

EUR/USD: Technical Analysis

Eurodollar has rebounded from its lows today and - although it is stalling right now - there is the possibility of a move higher to the top of the range at around 1.2600. After that a sideways consolidation range could unfold before the next strong trending move. Alternatively another strong break lower would target the support level at 1.2395 and longer-term this level will probably be reached eventually as the outlook remains bearish.

Analysis by: Joaquin Monfort

Forex4you analyst


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.