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Daily News about the EUR/USD pair

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Old 05-06-2012, 14:52
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Default Daily News about the EUR/USD pair

Today , we expect that if the prices breach up the 1.2532 level, it will rise towards the 1.2560 level then to the 1.2600 level, this up correction represents a great opportunities to enter a buy positions on the short term.

We advice our dear clients to enter a buy position at the 1.2505 level, and the next target will be towards the 1.2532 level then if it breach up this level the next target would be towards the 1.2560 level , however we advice our clients to put an order of stop loss at the 1.2460 level.

We notice on the weekly chart that the EUR/USD prices are trading within a downward channel and it has succeed in breaching the bottom level of the downward triangle and closed below the Fibonacci 176.4 %

This confirms the continuity of the bearish trend on the weekly trading.

Should the prices breach down the 1.2460 level , the next target would be towards the 1.2393 level then towards the 1.2307-1.2286 area .
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