EUR/USD Daily

 The price is contained in a uptrend channel and is located near the 1.3240 support, while holding above both its MAs.
 Further downside is expected from the double top formation and a pending downside correction of the 1.2895-1.3308 ascendent wave.
 Sell at 1.3221 with a stop loss placed above the double top at 1.3315 and a target at 1.3050 near Fibo 38.2 of 1.2895-1.3308.

R:R 89/174

EUR/USD H4

 The price is contained in a uptrend channel and has been rejected at the 1.3275 resistance where it formed a double top, while holding above both its MAs.
 The 1.2882-1.3303 ascendent wave is also pending a downside correction.
 Sell at 1.3241 with a stop loss placed above the double top at 1.3346 and a target at 1.3071.

R:R 98/164

Goldenschild Asset Management

http://www.goldenschild.com

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hughes.andre

Views: 444

Comment by Forex Pro on January 2, 2013 at 8:22pm
Great analysis Andre...catch this trade!
Comment by shahid ramzan on January 3, 2013 at 6:37am

good anaylsis

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