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Forex Flash: EUR/USD completes a symmetrical triangle pattern - Commerzbank

By FXstreet.com,  July 06, 2012, 02:45:00 AM EDT

FXstreet.com (Barcelona) - Commerzbank analysts say the EUR/USD completed a symmetrical triangle pattern by breaking down from its converging range: "These are continuation patterns, and breaks from them tend to be aggressive", wrote analyst Karen Jones, pointing to a downside target at 1.2288 (June low) and the 1.2054 (200-month MA). On the upside, 1.2444 (previous triangle support) is resistance ahead of 1.2535.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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