EURUSD – Analysis and trading signals – 12 May 2014

EURUSD – Analysis and trading signals – 12 May 2014

Screenshot 2014-05-12 14.27.59

Analysis:

EURUSD made a false move above 1.397 then falling down quickly after comment from Mario. As shown on the daily chart, the trend of EURUSD is clearly down now. The downtrend of EURUSD will be a long term trend since ECB is the only central bank continue to print more money while FEB, BoE, RBNZ have already have plan for their rate hike.

Our strategy will be sell when EURUSD retrace back to its resistant level this week

Trading signals:

Resistant zone:

+1.3970 – 1.400

+1.390

+1.380 – 1.386

Support zone:

+ 1.370

+ 1.3666

+ 1.3566

+ 1.3476

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