JDFN Financial Network

Forex4you Technical Analysis 18 Dec 2012

EUR/USD: Technical Analysis

Eurodollar continues to consolidate in a pennant or triangle formation. It will probably eventually break higher, with a decisive move above the 1.3187 highs acting as confirmation, or possibly even 1.3195 for added safety. Then it should reach 1.3255 where the monthly and weekly pivots coincide. Obstacles below the pattern may impede downside, first at 1.3119 and then the consolidation zone between 1.3080 and 1.3110.

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.

Views: 19

Comment

You need to be a member of JDFN Financial Network to add comments!

Join JDFN Financial Network

About

James Dicks created this Ning Network.

© 2019   Created by James Dicks.   Powered by

Badges  |  Report an Issue  |  Terms of Service