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Forex pairs in this Article » EUR/USD (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that EUR/USD is holding just below the 1.3833 recent peak.

Key Quotes

“Ideally we would like to see this hold and provoke initial failure however in order to alleviate upside pressure a break below the uptrend at 1.3586 is needed.”

“Intraday charts are giving conflicting signals, but we suspect we will see further upside probes.”

“Directly above 1.3833 lies 1.3940/60 (50% retracement of the move down from 2008 and the 5 year resistance line). This offers formidable resistance and we look for failure here.”
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