Chart to End the Week

Article originally published on innerfx.com and republished here with permission

Good morning. Euro continues to lose ground across the board while the dollar is strengthening, providing some good buying opportunities in several pairs. Let’s take a look at some of today’s interesting charts

EURUSD

The euro failed to hold above support region formed by the two fib lines, so it’s probably better to sell into the weakness below that support instead of holding a long position (dip bought on the correction to 1.2950 earlier this week)

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell around 1.2930, target at 1.2825

EURUSD 4hrs 10-26-2012

EURUSD 4hrs 10-26-2012

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About abwehra group

The Art&Science of Trading Gold
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