EUR/USD : Exit of its medium term bearish channel
--- Follow up analysis ---
The pair EUR/USD is still looking for a clear trend on the short term. The price continues to move between the support at 1.29 and the resistance at 1.2950 (faking false breakouts each time).
Analysis unchanged : "We advise to traders to wait an exit of the range 1.29/1.2950 to take position:
- Long if 1.2950 is broken. The breakout of 1.30 will give a new buy signal and will open the way towards 1.3050
- Short if 1.29 is broken. The first objective will be set at 1.2850. The breakout of this level should allow the price to reach 1.28.
Traders with a more agressive strategy could trade the pair according to 1.2925 (long above and short below)."
Analysis published by Vincent, the 10/04/2012 at 10h45 GMT+2
Chart of the pair EUR/USD - Timeframe 1H
Chart of the pair EUR/USD - Timeframe 4H
|EUR/USD Live Chart - Timeframe : 4h|
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