Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account
View RSS Feed

Free Forex Market Analysis

EURUSD stays in a trading range

Rate this Entry
by , 01-23-2013 at 10:09 PM (546 Views)
EURUSD stays in a trading range between 1.3256 and 1.3403. As long as 1.3256 support holds, the price action in the range is treated as consolidation of the uptrend from 1.2998 and another rise towards 1.3500 is still possible after consolidation. Only break below 1.3256 will indicate that lengthier consolidation of the longer term uptrend from 1.2661 (Nov 13, 2012 low) is underway, then deeper decline to 1.3150-1.3200 area could be seen.

Daily Forex Forecast


Disclaimer: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. The possibility exists that you could sustain a loss in excess to your investment and therefore you should not invest money that you cannot afford to lose. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. FXCM will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.