FX.co ★ EUR/USD Bullish Outlook, December 27, 2011 (Daily Strategy)

EUR/USD

The euro traded at 1.3078 against the dollar, slightly bullish trend on the 4 hour chart, on the other hand, the downtrend line, form a triangle with the upward trend line in the short term. the breakdown of one of these trend lines, we confirm the trend that will dominate in the coming days. If the euro breaks the uptrend support at 1.2950 and find below the 1.2859, A bullish break will lead the pair to the resistance of 1.3380 dollars per euro.

The 50-day moving average serves as a support to the pair, the price below this level will show bearish signals.