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Forex4you Technical Analysis 10 Jan 2012

EUR/USD: Technical Analysis

The price approached 1.2800 resistance level and pulled back down. Trading is now carried out at 1.2745/50 level. Indicators have turned from "bearish" to neutral, suggesting further consolidation within 1.2810 – 1.2670/40 range, like expected. Earlier forecasts are still relevant - if 1.2810 level is breached, the next stop will take place at 1.2850/60 resistance. Medium-term outlook looks "bearish", the next target is likely to be found at 1.2370/60 level.


Analysis by: Arkady Nagiev
                   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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