Mon, May 28, 2012, 6:03 AM EDT - U.S. Markets closed for Memorial Day

Buy Eur/Usd at 1.2820

By Joel Kruger | DailyFX – Fri, Jan 13, 2012 6:17 AM EST

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SymbolPriceChange
EURUSD=X1.25930.01

The trend has been intensely bearish but if the market can hold up at current levels and close back above 1.2820 on Friday, then it would confirm the double bottom on the daily chart opening a retracement back towards the 1.3000 area. As such, we will buy at 1.2820 for a move to 1.3000. If triggered, stop will be placed at 1.2740. (The Euro has dipped back below 1.2800 at the time this was written on Friday morning ahead of the North American session at 11:15GMT).

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2 comments

  • Anubis
    Anubis  •  4 months ago
    When I look at the chart over a year or so time frame, I see a broken neckline on a head and shoulders formation. Looks very bearish to me for the long term.
  • Mike S
    Mike S  •  Eugene, Oregon  •  4 months ago
    LOL...buy...no wait...now we see 1.266...ahahahahahahahahahaha...what shall it be? Buy at 1.282 and lose money in a flip of a finger or buy when this crap goes down to 1.20 again? Happy Weekend. Euro down to the gutter!
    • StsitramA
      StsitramA 4 months ago
      Better get long now. The bottom is well in at 1.266 or whatever it was. 1.2840 now and heading to 1.30+ quickly.
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