FX.co ★ EUR/USD Sell Below 1.2395 - August 08, 2012 (Daily Strategy)

The euro failed to overcome the resistance of 1.2440 and in is trading close to the 1.2307 support. Indeed, it seems that the level of 1.23 is the only thing that keeps this market right now.
So many promises can be of no use amid the crisis, it is necessary to act quickly. This seems to be something that the European authorities simply do not understand. Unfortunately, markets allow them to do this and we seem to be a bit of a cycle. However, it is almost impossible to look at this market and understand that every time pick is simply an opportunity to sell at higher prices.
Therefore, a return to the 1.2395 fractal level will be an opportunity to sell the pair back, with a first target 1.2307 and a break of 1.23, give a quick fall to 1.2210. Our stop loss is placed above the maximum of 1.2440.

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