Forex4you Technical Analysis 25 Jan 2012

EUR/USD: Technical Analysis

The EUR/USD has broken out of its ascending channel and has formed a bearish head and shoulders pattern. If it falls below the key 1.2950 then it will open the way to a drop to at least 1.2850 where a strong level of support exists which includes the weekly pivot and the target from channel breakdown.

Analysis by: Joaquin Monfort
                    Forex4you analyst

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