FX.co ★ EUR/USD 1.2408 Strong Resistance - For August 16, 2012 (Daily Strategy)

The EUR/USD bounced back above 1.2324 weekly Pivot, you should stay above this level to test the strength of the euro or you can try again to break the zone of 1.24, given that this month the pair has low liquidity due to summer holidays and many of the major operators are absent on holidays.
Because of this, you cannot take this action very seriously now and common sense indicates that the euro will continue to fall overall.
Therefore, we recommend selling at 1.2408 with targets at 1.2210. Our stop loss is placed above the maximum of the last week.

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