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 prepared by:
Arkady Nagiev
Forex4you analyst
Posted: January 10th, 2012 under Technical Analysis.