Forex4you Technical Analysis 24 Jan 2012

EUR/USD: Technical Analysis

The completion of various targets and double top forming indicate potential weakness and a possible break to the downside on the horizon. If the exchange rate falls below the swing lows at 1.2988 it will probably run down to 1.2960 at least, if not possibly further, but there it will probably stop because of support from the trend-line of the whole corrective move. Upside is currently limited by the weekly pivot and targets having been met for the breakout at around 1.3060.

Analysis by: Joaquin Monfort
                    Forex4you analyst

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