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EURUSD Forecast: Bearish channel violated, bullish continues |
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Written by Administrator
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Wednesday, 02 December 2009 |
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The EURUSD had a bullish momentum yesterday, topped at 1.5116 and
closed at 1.5074. On h4 chart below we can see that my bearish channel
has been violated to the upside indicating potential further bullish
momentum at least testing 1.5140/50 area before aim for 1.5300.
Immediate support at 1.5062 area. Break below that area should lead us
into no trading zone in nearest term testing 1.4950 area but the
overall sentiment remains negative for the Greenback. Stocks market
seems to recover nicely from Dubai World panic reaction last week while
gold keep making new all time highs pressing the Dollar down.
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