|EUR / USD: the aftermath of a bullish rally during the night|
|The pair EUR/USD made during the night an unexpected bullish rally of 200 pips, allowing the price to test the resistance at 1.26.|
The short term trend let us thought before to a pursuit of the bearish movement after the breakout of 1.25.
2 scenarios seems now possible after this bullish rally:
1. The breakout of 1.26 will give a buy signal and should allow the price to test the paralell of its long term bearish channel (pink line). A short pullback on 1.26 will be possible. Then, the breakout of the paralell will open the way towards the resistance at 1.27.
2. A correction on 1.25 and then a rebound on the resistance at 1.26. The breakout of 1.26 will give a buy signal.
Analysis published by Vincent, the 06/29/2012 at 9h15 GMT+2
Update : 07/02 : The pair has tested the paralell of its long term bearish channel (pink line) twice, below 1.27, and is now falling towards the support at 1.26.
|Complete sheet of the pair EUR/USD - Previous EUR/USD Analysis|
Chart of the pair EUR/USD - Timeframe 4H - Zoom in :
Chart of the pair EUR/USD - Timeframe 4H - Zoom out:
EUR/USD Live Chart - Timeframe : 4h