FX.co ★ EUR/USD Re Buy 1.2090 for July 25, 2012 (Daily Strategy)

The euro fell yesterday to its two year minimum and is now trading around 1.2161 at this time. Having covered the gap that I left it at 1.2145, this move can consider that the pair could continue to rise significantly until the resistance of 1.2410 but it will face 1.2280 resistance next.
Therefore, we have two strategies: Pivot and fractals, both showing very good odds.
According to the weekly pivot, we have a support at 1.2104; the pair may go back to this level and then resume the upward force. We, therefore, recommend buy at 1.2104 with targets at 1.2245 and 1.2410 as the final objective.
According to the fractals we can buy candles in closures of 4 hours, above 1.2145 with targets at 1.2410 next fractal, ultimate goal.
Within both strategies it is possible to place a stop loss at 1.2025.
The trend indicator, this is an oversold area and showing a correction to the higher levels.

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