Timeframe Breakdown
Written at 15:27, by Ian Coleman
27Mar
2012
2012
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Latest Market Update
EURUSD
23/05/2013
9:31am
9:31am
Bearish Bias – Sell at 1.2877 stop at 1.2905
“EURUSD – Trading was mixed and volatile yesterday but the rally was sold close to 1.3000 with strong follow through bearish momentum resulting in EURUSD posting a negative daily performance. This selling pressure has continued overnight but the dip has been bought from 1.2824.Although the outlook is bearish, we have to be careful at current with the USD Index ‘clipping’ the 261.8% extension level (from 81.37-82.61), before turning lower. With this in mind, there is ample scope for a larger correction going into today. The call is Bearish Bias – Sell at 1.2877 stop at 1.2905. The profit targets will be: 1.2830, 1.2805 and towards 1.2752
Resistance levels are: 1.2856, 1.2878 and 1.2900
... [Read more]”
