FX.co ★ EUR/USD Sell Bellow 1.2938 - For November 28, 2012 (Daily Strategy)

The euro falls during today's session as the wait for Brussels plans for Spanish banks nationalized in the U.S. and there are still difficulties in the negotiations between Democrats and Republicans to avoid "Fiscal Abyss". This uncertainty is causing the downward pressure for the euro.

At the technical level, we note that since the maximum of 1.3005 the euro broke the 23.6% Fibonacci retracement. We expect the bearish sequence can fall up to 50% retracement to the level of 1.2830.

Therefore, if you are selling it is recommended keeping your order, or you can enter the pullback towards 1.2938 and place stop loss above the maximum of this week.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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