FXstreet.com (Barcelona) - The Euro is trading al levels below 1.4300 after recent bounce at 1.4090 was capped at 1.4327 high on Thursday, and, according to Karen Jones, technical analyst at Commerzbank the Euro could have reached its ton ahead of a slide back to 1.4091.
Jones affirms that Euro rally has failed to arise upside interest: EUR/USD's rebound from its 55 day ma at 1.4093, went a tiny bit further then we ideally would have likely - but has not managed to re-ignite upside interest.
On the near term, Jones warns about a slide back to levels below 1.4100: Very near term we suspect it will falter at 1.4320/40 for a slide back to the 55 day ma at 1.4093. The risk remains for an extension of the downmove to the 6 month uptrend at 1.3888.
On the upside, Jones points out to 1.4445 recent year high: Above 1.4340 will shift the intraday risk to the topside, targeting the recent high at 1.4445 and the top of the channel at 1.4554.