EUR/USD : Medium term bearish channel
--- Follow up analysis ---
The pair EUR/USD is currently making a rebound towards the upper band of its medium term bearish channel (brown lines) and is going to test 1.2750.
We continue to advise short positions as far as 1.2750 is resistance. A return below 1.27 will comfort our bearish feeling.The breakout of 1.2650 will give a new sell signal and will allow the price to reach the next support at 1.26.
In case of return above 1.2750, we will wait the breakout of 1.28 to advise long positions.
NB: Traders with a more agressive strategy could trade the pair according to 1.2750 (long above and short below)
Analysis published by Vincent, the 11/14/2012 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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