The EURUSD continued its bearish momentum yesterday, topped at 1.2687 and closed at 1.2560
Today I assume a bearish move testing the key support 1.2544 , losing this level would lead for more loses testing the key support - the psychological level - 1.2500 where strong challenge is expected around this level...
Immediate resistance is seen around 1.2610 where bounce back to downside is expected , stability below the key resistance 1.2685 is indeed to keep the bearish trend strong and intact, a break above of this level might delay the bearish move testing 1.2800 levels...
Recommendations: Selling the pair around 1.2610, targeting 1.2550 & 1.2500 , stop loss at 1.2700
Thursday 24 May 2012 03:54 AM