Forex4you Technical Analysis 20 June 2012

EUR/USD: Technical Analysis

The pair is still climbing within a channel. It will probably continue higher and possibly re-touch the 1.2750 highs, or even the upper channel line at 1.2790. If there is a fall back down then the monthly pivot underpins support at 1.2660, although a breach of that would probably lead to a move down to the lower channel-line at 1.2615.

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.