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Forex4you Technical Analysis 10 Feb 2012

EUR/USD: Technical Analysis

The price failed to hold above 1.3300 level, so the price stayed within 1.3300- 1.3250 consolidation range. Trading is currently carried out at 1.3270/80 level. Indicators are neutral, suggesting further range trading with a possible extension of current consolidation range down to 1.3200/1.3190 levels. At the same time, the uptrend is still considered to be dominating and growth to 1.3420/30 targets is also possible. 1.3040/00 support breakout will indicate a medium-term reversal to a downtrend.

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.

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