FX.co ★ EUR/USD Sell Bellow 1.3030 - For November 30, 2012 (Daily Strategy)

This morning the EUR/USD pair carried out a maximum of 1.3027, the maximum of four weeks. At this time this fall is due to general uncertainty in Europe, German lawmakers are deciding whether to approve the rescue plan for Greece, Schaeuble said that failure of Greece could lead to the disintegration of the European Union. The rescue is likely to be approved before 13 December. However, it is not be enough to alleviate concerns.

On a technical level the pair is an uptrend, although it is very exhausted and we expect a corrective movement. If the pair does not exceed the maximum today, below 1.2984, the bearish movement could extend to 1.2965, which is key level. There will be more downside to 1.2830 (61.8%) below this level.
Therefore, you can sell at current levels or sell again if there is a pullback to 1.3020. Place stop loss above 1.3060, weekly resistance.

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