Good morning traders,

At the London Open EURUSD is sitting right at support line, starting from an intraday low of 1.2270. There was a fake (?) move to the upside, that was quickly covered. We need below 1.2280 area to confirm the downtrend.

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Comment by Rao Khassan on July 27, 2012 at 7:57am

On my one minute chart, there's a cross of two yet-to-become support lines in 65 area. That could be the immediate target on EURUSD. What's your targets? 

Comment by Rao Khassan on July 27, 2012 at 8:40am

EUR went a few pips lower bottoming at round number 1.2260.

At the moment I have 75 and 80 as resistance lines. The crucial level to the upside for me is 1.2289.

Comment by Rao Khassan on July 27, 2012 at 8:56am

I've closed my sell at 46. The explanation is red line on the chart. +40 pips in less than 30 min, btw :)

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