The support at 1.3159 has been broken.
• EUR/USD has broken to the downside out of
its horizontal range between the support at
1.3159 and the resistance at 1.3308. Further
short-term weakness is favoured as long as the
hourly resistance at 1.3191 (intraday high) holds.
Supports are given by the rising trendline and
1.3041 (13/12/2012 low).
• The higher low in July 2012 (compared to July
2010) and the recent new high above the strong
resistance at 1.3172 suggest an improvement of
the underlying trend. A strong resistance is at
1.3487 (24/02/2012 high).
Get free MCX ideas, chart setups, and analysis for the upcoming session: Commodity Tips →
Want to get premium trading alerts on gold, silver, crude oil, etc., and unlimited access to Moneymunch? Join today and start potentially multiplying your net worth: Premium MCX Calls
Premium features: daily updates, full access to the Moneymunch #1 Rank List, Research Reports, Premium screens, and much more. You΄ll quickly identify which commodities to buy, which to sell, and target today΄s.
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.