EUR/USD : the return below 1.30 changes everything
--- Follow up analysis ---
The pair EUR/USD continues with strength its bearish rally after the breakout of its medium/long term bullish slant (blue line). The price is currently testing the support at 1.28 but find support in extension on the lower band of its short term bearish channel.
We advise to trade only short positions as far as 1.2850 is resistance. The breakout of 1.2750 will give a new sell signal and open the way towards 1.27/1.2650.
In case of return above 1.2850, we will be neutral between this level and 1.29.
NB: Traders with a more agressive strategy could trade the pair according to the key level at 1.2850 (long above and short below).
Analysis published by Vincent, the 11/05/2012 at 10h00 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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