News from across the continent
Publish Date28/12/2012 11:17:57 AM
Last Update28/12/2012 11:23:03 AM
The pair remains locked in a consolidation pattern and couldn’t show any big move after yesterday`s collapse. Consequently, we remain bearish for the rest of the day; noting that a break below 1.6065 support will trigger panic sell-off actions.
The trading range for today is among key support at 1.5960 and key resistance at 1.6310.
The general trend over short term basis is to the downside targeting 1.6875 as far as areas of 1.4225 remains intact.
|Recommendation||Based on the charts and explanations above our opinion is, selling the pair around 1.6140 targeting 1.5960 and stop loss above 1.6310 might be appropriate.|
Opinions expressed at ICN.com are those of the individual authors and do not necessarily represent the opinion of ICN.com or its management, shareholders, affiliates and subsidiaries. ICN.com has not verified the accuracy of any claim or statement made by any independent writer and is reserved as their own and ICN.com is not accountable for their input. Any opinions, news, research, analysis, prices or other information contained on this website, by ICN.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. ICN.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The data contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market prices, meaning prices are indicative and not appropriate for trading purposes. ICN.com does not bear any responsibility for any trading losses you might incur as a result of using this data.
©2012 ICN.COM. ALL RIGHTS RESERVED