FX.co ★ EUR/USD - Sell Below 1.3068, Juanary 25, 2012 (Daily Strategy)

EUR/USD

The euro - U.S. dollar pair is trading at 1.2940, with the bearish trend in the H4 hour chart, after a line break 1.2990 bullish, after which the price decline will accelerate. The price is touching the moving average of 200 periods, if we note the level of 1.3068 is a strong resistance that has prevented the pair move upside. In view of that the pair has broken its uptrend line in a short term. Thus you can make a pullback to 1.3010 selling or enter with sell position at current levels. The target should be at 1.2708.