Tuesday Chart to Watch

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

Good morning. Dollar resumed rally after Friday’s NFP and the euro declined from 1.31 area to 1.2955.

EURUSD

It was a good plan to hold short ahead of Friday’s NFP, and I believe that current pullback is corrective, as EUR is showing signs of exhaustion after recovering from 1.2950 area to 1.3050 – currently trading around 1.3015

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell into rally around 1.3050, stop above 1.3100, target at 1.2950

EURUSD hourly 3-12-2013

EURUSD hourly 3-12-2013

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About abwehra group

The Art&Science of Trading Gold
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