FX.co ★ EUR/USD (Sell Below 1.3308) for December 27, 2012 (Daily Strategy)

The euro managed to overcome the weekly pivot level of 1.3212 and close above it, as we mentioned yesterday. Now it is facing the first weekly resistance of 1.3282 and 1.3308 psychological resistance. We noticed a little overbought of this pair to continue up and, if this would happen, the euro must close the day above 1.3182. On the other hand, we are bearish below 1.3308 level, so we recommend selling below 1.3282 with targets at the weekly pivot level, 1.3212 and support nearest 1.3150. The technical indicator is showing overbought levels, it is likely that in the next few days there will br a strong retracement to the level of 1.3150. It faced significant resistance for the pair to broke above, and it should now work as a support important.

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