EUR/USD Intraday Technical analysis 2011-12-19
The spot rate is currently testing the intermediate resistance of its medium term bearish channel in 1.3060 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.3320.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3060 with a 1st objective of 1.3120, then 1.3150. A break in 1.3040 would invalidate this scenario.
Performed by Albert Fitoussi, Analytical expert
The spot rate is currently testing the intermediate resistance of its medium term bearish channel in 1.3060 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.3320.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3060 with a 1st objective of 1.3120, then 1.3150. A break in 1.3040 would invalidate this scenario.
Performed by Albert Fitoussi, Analytical expert