Tuesday, November 6, 2012

Sell EUR/USD : Failed Symmetrical Triangle & Broken Support Area

The EUR/USD seemed to move in a side way horizontally till it broke the support area (1.2817-1.2804) downwards confirming the daily downtrend & the weekly downtrend also (see the weekly chart).

The support area were represented by the low of September 30, 2012 & the high of September 07, 2012.

The next support area that will face the declining of the EUR/USD will be (1.2747-1.27245) represented by the high of June 17, 2012 & the Mid price ((high+low)/2) of September 7, 2012.

My opinion: sell EUR/USD , Target at 1.2747-1.2724.

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