|EUR/USD : Volatile but without a real medium term trend|
Due to economics news, the euro felt strongly against the US Dollar yesterday. After a high on the resistance at 1.24, the pair EUR/USD has started a bearish rally of 250 pips. The pair found support on 1.2150 and is currently trying to rebound. 1.22 is tested as resistance. The rebound could pursuit towards 1.2250 if the return above 1.22 is validated.
Between 1.22 and 1.23, traders should stay neutral. We advise to wait an exit of this range to take position:
Most agressive traders could trade the pair according to 1.2250 (long above and short below)
Analysis published by Vincent, the 08/03/2012 at 09h30 GMT+2
Updated the 08/07 - The return above 1.23 has offered a buy signal on the pair EUR/USD who is currently testing the resistance at 1.24.
We maintain to trade only long positions as far as 1.23 is support. A pullback on 1.2350 or 1.23 stay possible but the breakout of 1.24 and 1.2450 will both give a new buy signal. 1.25 should be then reached.
In case of return below 1.23, a sell signal will be given.
|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|