EUR/ USD Daily Technical Analysis June 29, 2012

Amy Forex

Member
90 0
Dear Traders,

The EUR/USD was unstable yesterday and was trading between the 1.2407 and the 1.2627 level, this reflects the worry of the investors due to the uncertainty of the market, and because they wait the latest news concerning the European summit in Brussels.

This uncertainty in the market will affect the short term trading, however we still expecting that the general trend of the market would remain bearish and the prices should complete the Double Bottom form on the daily chart.

Should the prices breach down the 1.2540 level, the prices would retreat again to the 1.2470 level, then towards the 1.2407 level.

Concerning the short term trading, we advice our traders to be careful because any positive decisions from the European leaders will push the Euro up towards the 1.2627-1.2670 area.



Nice Trading all ;)
Source mbcfx.com
 
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