Article originally published on innerfx.com and republished here with permission
Good morning. I’ve been away for a while, but looking at current charts, it doesn’t seem that I missed anything interesting. Let’s take a closer look at today’s charts to see if there are any good trading opportunities.
EUR looks bullish against the USD on both intraday and short-term basis, so buying dips in case of a correction to 1.2950 or buying on the break of 1.3000/15 intraday resistance are two plans to consider. Maybe today’s Bernanke’s speech will be the catalyst fueling a dollar decline?
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy dips on pullback to 1.2950, target at 1.3050+. Second plan is to buy on rally above 1.3015/30, target at 1.3100
EURUSD daily 12-12-2012
EURUSD hourly 12-12-2012
4 hrs chart:
EURUSD 4hrs 12-12-2012