FX.co ★ EUR/USD Sell Bellow 1.3112 - For December 05, 2012 (Daily Strategy)

Yesterday the euro managed to rise near the top of the strong resistance of 1.3150, a level that has kept the pair in consolidation for several weeks. Given that this December there will be little liquidity; this pair can have odd movements and could cause a loss of your capital, should be very cautious and operate at low leverage. Therefore, our strategy for the short term is to sell below the second resistance 1.3111 weekly, and stop loss is above 1.3150 resistance dynamics. You can sell after the fundamental announcements are given today in the USA. Technical indicators are overbought; a correction is imminent to the level of 1.3000.

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