EUR/USD : Medium term bearish channel
--- New analysis ---
The pair EUR/USD is moving into a short term bearish channel (brown lines) and is currently testing the support at 1.2750.
We continue to advise short positions as far as 1.2850 is resistance. The breakout of 1.2750 will offer a new sell signal and will allow the price to pursuit its bearish movement towards 1.27.
In case of return above 1.2850, we will wait the breakout of 1.29 to advise long positions.
NB: Traders with a more agressive strategy could trade the pair according to 1.28 (long above and short below)
Analysis published by Vincent, the 11/08/2012 at 11h00 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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