FX.co ★ EUR/USD Strong Resistance 1.3112 - For December 04, 2012 (Daily Strategy)

The EUR/USD now faces the second weekly 1.3111 resistance. It is a key level and above this level of 1.3150 there is much resistance and it is very difficult to exceed this level in the short term. The euro will likely oscillate between the levels of 1.3150 to 1.2700, a very strong support. Therefore, given that the euro is near the level that we mentioned, you can make the decision to sell at the current price level and expect the pair to reach 1.3111 key level and if this level retreats below, you can sell with objectives to 1.2964, weekly pivot level.

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