Forex - EUR/USD down in European trading hours

[lasafx]

:clap:The Euro was lower against the U.S. Dollar on Friday.

EUR/USD was trading at 1.3058, down 0.17% at time of writing.

The pair was likely to find support at 1.3004, Thursday’s low, and resistance at 1.3191, Tuesday’s high.001% t

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.25% to hit 0.8305 and EUR/JPY falling 0.o hit 109.31:clap:

 

[easytraveller]

I believe the EUR/USD trend (yearly) at the moment is negative as the Dollar Index is getting stronger and stronger and it seems in a upwards rally. The situation in Europe doesn't seem to improve. It has been so annoying to see as recently the price rebounded back from 1.30 to 1.3285, that's a support level (1.30) is very difficult to break at the moment. This makes the market very volatile and difficult to trade. Too many up and down: no one knows when may go again below: 1.30? My guess is that at the moment (21 March 2012) there is a bit more chance that the EUR/USD may drop below 1.30 rather than go above 1.33. I may think to sell around 1.3290 and put a stop loss at 1.3390 with profit target to 1.27, risk 100 pips to win 500 or at least 300!