Short term (Intraday)

1,2610. EUR/USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are parallel and form the trend. ForexTrend 1H, daily (Trend Indicator) is in a bearish configuration. The downtrend should continue on 1,2440 support (170 pips).

We could take a short position at 1,2620. We will put the stop loss above 1,2710 (-90 pips). The targets are 1,2450 (+170 pips, risk/reward 1:1.9), 1,2400 (+220 pips, risk/reward 1:2.4) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances 1,2710 - 1,2760
Supports 1,2575 - 1,2450

This entry was posted on Tuesday, December 2nd, 2008 at 2:36 am and is filed under Forex Indicator, Forex Info, Forex News, Forex Signal, Forex Technical Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.