Forex Flash: EUR/USD with signs of failure - Commerzbank
Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - As the EURUSD shows signs of failure at the resistance line at 1.2842, "we should see this together with the 55 day ma at 1.2903 hold the topside and provoke failure", wrote analyst Karen Jones. "We note the TD perfection set up on the 240 minute chart and this adds weight to idea of failure here", she added, pointing to the 1.2661 current November low while the latter caps. "Failure here will push the symmetrical triangle downside measured target at 1.2483 to the fore", Jones said, adding support at 1.2607 (50% retracement) and at 1.2474 (61.8% Fibonacci retracement of the move up from July).