Updated the:
07/02/2012
EUR / USD: the aftermath of a bullish rally during the night
Sentiment :
sentiment
1.26
sentiment
1.26
sentiment
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.
Our two scenarios stay possible : according the the key level at 1.26.

Complete sheet of the pair EUR/USD - Previous EUR/USD Analysis

Chart of the pair EUR/USD - Timeframe 4H - Zoom in :

EUR/USD

Chart of the pair EUR/USD - Timeframe 4H - Zoom out:

EUR/USD

EUR/USD Live Chart - Timeframe : 4h

Chart