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Forex4you Technical Analysis 24 Feb 2012

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EUR/USD: Technical Analysis

The EUR/USD has risen strongly, breaking above key resistance from a major channel line and there is a strong possibility now of even more upside. A little bit of resistance resides at 1.3400, then there is the R2 weekly pivot at 1.3443 before substantial resistance kicks in at 1.3550 – my main longer-term upside target.

EURUSD240212.png

Analysis by: Joaquin Monfort

Forex4you analyst

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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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