The EURUSD corrected higher yesterday , bottomed at 1.2440, topped at 1.2584 and closed at 1.2574...
Today I assume a bearish move testing the key support 1.2540 a clear below this level would lead for more loses testing 1.2500 levels..
Immediate resistance is seen around 1.2600 where bounce back to downside is expected , stability below the key resistance 1.2625 is indeed to keep the bearish scenario suggested for today valid , a clear break above 1.2625 would mix up things and might target 1.2695 levels....
Recommendations: Selling the pair around 1.2595 , targeting 1.2545 and 1.2500 , stop loss 1.2640
Thursday 07 Jun 2012 07:36 AM