Euro Technical Major Currencies (2012-01-19)

By @ibtimes on

Morning Report

The pair is currently trading above the main resistance line of the downside movement, but also below the resistance level of 1.2875. Stochastic providesa negative crossover within overbought areas, but the exponential moving averages 20 and 50 attempt to provide a positive crossover. Due to the technical conflict seen, we remain neutral in our morning report, awaiting more confirmations.

The trading range for today is among the major support at 1.2665 and the major resistance at 1.3005.

The short-term trend is to the downside with steady daily closing below 1.3145 targeting 1.2220.

**New York Candlesticks**

Previous Report

Weekly Report

Support1.28401.27951.27201.26651.2620Resistance1.28751.29001.29551.30051.3045RecommendationBased on the chart and explanations above, we remain neutral awaiting more confirmations

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