EUR/USD : Medium term bearish channel
--- Follow up analysis ---
The pair EUR/USD made last friday a quick pullback on 1.27 as support and is currently making a rebound. The price is testing the paralell of its bearish channel (brown lines).
We still advise to trade the pair outside the range 1.2750/1.28:
- Only short positions below 1.2750. The breakout of 1.27 will offer a new sell signal and will open the way towards 1.2650
- Only long positions above 1.28. The breakout of 1.2850 will give a new buy signal and should allow the price to reach 1.29.
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 11/19/2012 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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