Thursday, May 10, 2012

EURUSD Analysis

Current Market Outlook - Bearish

With EURUSD breaking through the important 1.30 level, we seek to be shorting this pair any retracement to retest the once broken support turned resistance.

 The key level we will be looking at will be 1.29922. This appears to be the support for the month of February and March. Using Fibonacci, 1.29922 coincides with F2 - 0.238.

H1 will give the earliest indication of a short position. Await for a valid trigger in H1.

May the odds ever be in your favour

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