Forex Flash: EUR/USD targets 1.3726 as effective resistance – RBS
Forex pairs in this Article »
EUR/USD
FXstreet.com (Barcelona) - The EURUSD has been unable to encounter a very effective means of resistance in the short-term, though the level that stands out is the 76.4% retracement from the 1.4245 - 1.2047 range at 1.3726.
According to Technical Strategist William Moore at RBS, "the lower 1.3406 level looks the best place for stop losses here as that was the trickiest resistance to overcome on the way up, while it is recommended to use the 1.3726 level as the objective as this should be achieved from the pennant pattern as highlighted in the chart adjacent."
According to Technical Strategist William Moore at RBS, "the lower 1.3406 level looks the best place for stop losses here as that was the trickiest resistance to overcome on the way up, while it is recommended to use the 1.3726 level as the objective as this should be achieved from the pennant pattern as highlighted in the chart adjacent."
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