Tuesday Charts of Interest

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

Good morning. The last few days have been bad for the euro as it retreated against its major counterparts across the board.

EURUSD

Former support at $1.2800/20 was easily breached and there is no sign of relief ever since. Should the euro recover some ground though, it’s quite possible that more sellers are waiting in line to pull it lower.

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 1.2730, stop above 1.2780, target at 1.2600

EURUSD daily 11-13-2012

EURUSD daily 11-13-2012

hourly chart:

EURUSD hourly 11-13-2012

EURUSD hourly 11-13-2012

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About abwehra group

The Art&Science of Trading Gold
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