EUR/USD (1.2668)
HEADING TOWARDS 1.2650
This pair is just near to 1.2650 which is strong resistence for Dollar. Retraced completley from 1.2650 to 1.2831 (181 pips), below this level support comes at 1.2630. Thereafter we see 1.2560. The strong resistence is at 1.2720 which is the 61.8% support of 1.2650-1.2831. As long as it stays above 1.2630/1.2650 and below the 1.2720 it'll remain weak. But one can go long in it at the current levels with the stop loss of 1.2630 for the target of 1.2720 and 1.2760. This pair began to retrace when it formed Double Top formation at 1.2820.
HEADING TOWARDS 1.2650
This pair is just near to 1.2650 which is strong resistence for Dollar. Retraced completley from 1.2650 to 1.2831 (181 pips), below this level support comes at 1.2630. Thereafter we see 1.2560. The strong resistence is at 1.2720 which is the 61.8% support of 1.2650-1.2831. As long as it stays above 1.2630/1.2650 and below the 1.2720 it'll remain weak. But one can go long in it at the current levels with the stop loss of 1.2630 for the target of 1.2720 and 1.2760. This pair began to retrace when it formed Double Top formation at 1.2820.
posted by Naveen Pantera at 8:25 PM
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