Forex Flash: EUR/USD trading near key 1.3020 level – RBS

By FXstreet.com | November 27, 2012 AAA

FXstreet.com (Barcelona) - "The EURUSD is trading to the pip where it was 24 hours ago, with price action how it was overnight we are more confident overnight that the market will continue to struggle at the 1.3025 level especially if the market closes lower than it opened." writes William Moore, a Technical Markets Strategist at RBS.



According to Moore, "This would be only the second bearish session in the past 11 days and we see think that more confirmation is needed than to go 'outright short' now, but those that think this is the strategy then we would want stops quite tight around the 1.3040 level."



comments powered by Disqus
Related Forex Analysis
  1. AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation
    Forex News

    AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation

  2. USD/JPY bulls need to take a breath before a new attack at 110.00
    Forex News

    USD/JPY bulls need to take a breath before a new attack at 110.00

  3. Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low
    Forex News

    Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low

  4. GBP/USD nervous below 1.6200, waiting for data
    Forex News

    GBP/USD nervous below 1.6200, waiting for data

  5. Dollar’s Current Bull Leg Strongest since Rally Through Crisis
    Forex News

    Dollar’s Current Bull Leg Strongest since Rally Through Crisis

Trading Center