Good morning all,
The EUR/USD prices are trading since 24/ 04/ 2012 within a downward channel which pushed the prices down towards the 1.2641 level in 18/ 05/ 2012 .
We notice on the 4 hours chart that the prices breached up the channel to reach the moving 50 which represents a barrier and prevent the prices to continue its upward movement , at the same time we notice the weakness of the bearish trend represented by the ADX indicator that give us a signal that the prices may rise .
However if the prices breach up the 1.2806 level, it would rise further and represents a great opportunities to enter a bay positions and the next target would be towards the 1.2906 level
Concerning the daily trading, we expect to bay at the 1.2806 level and take profit at the 1.2865 level and the necessity to enter a stop loss at least with 30 points
The 1.2865 level represents an opportunity to enter a sell position on the short term and the next target would be towards the 1.2811 level
Notice : We draw the attention of our dear clients to be careful in thir trading and to monitor the recent economic news I and we will send you a notification about the re as soon as it will be released.
Good luck traders
Read more http://www.mbcfx.com/news/news_en22_05.html
This post has been edited by Emmafx: May 22 2012, 08:31 AM