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Forex Analysis
by ForexNewsNow Team on November 26th, 2010

EUR/USD forex technical analysis round-up: Nov. 26

NEW YORK (Forex News Now) – The euro was falling against the dollar today, trading at 1.3234 as of around 11:00 A.M., GMT on Friday.

The euro is down 0.936% from its open of 1.3359 and has reached a session high of 1.3362 and a low of 1.3218.

This is what the analysts say about the heavily traded currency pair in the near-term:

FXstreet quotes Forex Ltd as saying that the assumed return of the rate to resistance levels has been confirmed with conditions for realization of the planned short positions.

“Presently, OsMA trend indicator on the background of its descending tendency supports preservation of opened short positions targeting 1.3280/1.3300 and/or further breakout variant up to 1.3220/40, 1.3160/80, 1.3100/20,” the realtime forex news site continues.

Forexcycle notes that EUR/USD remains in a downtrend from 1.3785.

The intraday analysis adds, “Resistance is at 1.3420, as long as this level holds, downtrend is expected to continue and next target would be at 1.3100 area.”

Meanwhile, in a report aimed at technical analysis trading, Investija.com notes that EUR/USD support barrier remains active at 1.3307 price level, as current consolidation near support is extended.

“At the moment, waiting action holds in order to confirm a possible breakout of support level and further bearish actions. Selling options are possible just below support barrier,” it adds.

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