empty
 
 
05.09.2012 06:34 PM
EUR/USD Bearish Pattern - September 05, 2012 (Daily Strategy)

 

The Euro recovered again this morning and now is trading above 1.26. This optimism won’t last long though. If you've been reading my reports, you know that I find the level of 1.27 as a strong resistance zone for this currency pair. I remain bearish for this pair because the European Union is an absolute mess. If the two weeks close above 1.27, the rate could go upward to 1.30, at least.
On a technical level we note that the euro has formed a bearish roof, so we recommend selling at 1.26 until tomorrow, given that tomorrow will be a very volatile day, so we recommend be cautious. We will place our goal in the next fractal near 1.2512 support level, if this level is broken, our ultimate goal will be at 1.2380 dollars per euro.

 

This image is no longer relevant

 

If you need a personal consultation, contact me via e-mail: [email protected]

If you like my technical analysis, please vote for me, in the portal MT5.com, please login and then vote for me. Thanks.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback