FX.co ★ EUR/USD Bullish Outlook, December 29, 2011 (Monthly Strategy)

The unified currency, this day reached its annual minimum. Because the European Central Bank in charge of generating a stampede contrary to its currency.
We had mentioned in a previous analysis that if the euro broke its uptrend that guided him, would have a fall to the second support weekly. can review the full report:

instaforex.com/forex_analysis/46911/

However, in the monthly chart shown above, we note that the Euro-Dollar pair is just above its monthly support at 1.2849, if we notice a trend line that started in July 2001 maintained the upward trend in the long time. Since the fall of the euro to 1.4933 leads to the minimum today(1.2860), has not been a significant correction, therefore, our outlook is bullish. only if the pair closes the month of December and the year 2011 over m_2 (1.2849) Our stop loss is adjusted to 1.2790. Our long term we will place in the resistance around 1.4170 monthly. dollars per euro.