|EUR/USD : Economic news reverse the trend|
|The way was well drawn on the EUR/USD for a return above 1.27/28 but economics news led to a strong bearish rally.|
News : interest rate cut of the ECB and ADP unemployment report better than expected.
Analysis published by Vincent, the 07/05/2012 at 16h00 GMT+2
Update 07/09 - The euro has continued its bearish rally against the US Dollar. The pair EUR/USD has validated the breakouts of 1.24 and 1.23, offering two sell signals. At the end of the day, the pair close on 1.23.
A pullback on 1.2350 or 1.24 is possible if 1.23 become again support but without it, the euro should continue its bearish movement towards 1.22. The breakout of 1.22 will give a new sell signal.
Update 07/12 - The Euro has validated yesterday against the US Dollar the breakout of 1.2250, offering a new sell signal.
The pair EUR/USD is now moving into a bearish channel (red lines) and is going to test the next support at 1.22. The breakout of this level will give a new sell signal and the pair should then test the lower band of its channel.
|Complete sheet of the pair EUR/USD - Previous EUR/USD Analysis|
Chart of the pair EUR/USD - Timeframe 1H
Chart of the pair EUR/USD - Timeframe 4H
EUR/USD Live Chart - Timeframe : 4h