FX.co ★ EUR/USD Bearish Outlook, December 02, 2011 (Daily Strategy)

EUR/USD

The Euro-Dollar pair, this occasion has tried 3 times to break its uptrend line support served him, on this occasion is serving as a strong resistance. If you noticed in 4 hour chart the pair has formed a triangle continuation trend, which has its top at 1.3520, a daily close above this level, the pair will go to the nearest resistance of 1.3680. At this level we are attentive to a massive sell of the euro, as these increase in the price of and market optimism will not last long.Our partial profit taking set it on the 1.3460 support level and our long term goal we will place on the level of 1.3190 dollars per euro.