News: 2012-01-27 11:53:57 UTC+00 3 weeks, 5 days, 17 hours, 36 min. ago
EUR/USD Intraday Technical Analysis & Trading Recommendations for January 27, 2012


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Yesterday EUR/USD was testing the upper limit of the bullish channel at 1.3165, when we suggested a short position.

Two TP levels at 1.3110 and 1.3080 got hit during the last few hours.

Now we have a SUPPLY zone between 1.3132-1.3180 which is being retested now giving another opportunity to go short again.

We may have a "Head & Shoulders" reversal pattern being formed now to be confirmed with closure below the neck-line at 1.3075 targetting 1.2980.

TP should be located at 1.3100, 1.3075, 1.3030 then 1.3000 & SL for the short position should be located above 1.3205.

Performed by
Analytical expert: Mohamed Samy
InstaForex Companies Group © 2007-2012
Published: 2012-01-27 11:53:57 UTC+00 3 weeks, 5 days, 17 hours, 36 min. ago

 
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