EUR/USD : Medium term bearish channel
--- Follow up analysis ---
The pair EUR/USD has validated on friday the breakout of 1.2750, offering a new sell signal. The price continues to move into its bearish channel (brown lines) and is currently testing the major support at 1.27.
We continue to advise short positions as far as 1.28 is resistance. The breakout of 1.27 will give a new sell signal and will allow the price to reach the next support at 1.2650.
In case of return above 1.28, 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 11/12/2012 at 10h15 GMT+2
Chart of the pair EUR/USD - Timeframe 1H
Chart of the pair EUR/USD - Timeframe 4H
|EUR/USD Live Chart - Timeframe : 4h|
For more reports, go to Forextribe