|EUR/USD : Below 1.23, the pursuit of the bearish rally is expected|
|The Euro againt the US Dollar continues to move into a bearish channel (red lines). The pair is currently testing the upper band and also 1.2250 as resistance.|
We stay bearish as far as 1.2250 is resistance. The breakout of 1.22 will give a new sell signal and open the way towards 1.2150/1.21.
In case of return above 1.2250, we will then wait the breakout of 1.23 to advise long positions with an objective at 1.24.
Analysis published by Vincent, the 07/16/2012 at 09h30 GMT+2
|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