Article originally published on innerfx.com and republished here with permission
Good morning. Euro failed to recover above $1.31 and resumed decline – testing the lower $1.30 zone at time of writing. Daily chart is bullish while it looks heavier on the intraday ones.
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to buy on retracement to 1.2970, target at 1.3070
EURUSD 4hrs 10-23-2012