FX.co ★ EUR/USD. Show Signs of Recovery, December 10, 2010 (Daily Strategy)

The Euro – United States dollar pair is, once more, showing signs of recovery after it had failed to breach the 1.3200 support level. That said, a daily and weekly close over this level tonight will serve us as a meaningful signal for the beginning of an upward movement. The Euro – United States dollar pair is expected to move up to the 1.3950 resistance level at the very least. We will be able to place the stop loss order just under yesterday’s daily low around 1.3150 United States dollars for one Euro.