December 1, 2008 05:18

Technical Analysis – EUR/USD Bear Trades

By:

12-1-08

3:22a GMT – Happy December to everyone. Thanksgiving was a good time and nice to have an extra two days with the family. Back to trading! The EUR/USD has taken a steep fall after finding buyers of the dollar beneath 1.3100. Since we have seen a 400 pip drop to 1.2700 and I am looking to sell rallies heading into Monday trading. Strongest resistance is at 1.2800.

Trading Idea: look for areas of resistance on your trading time frame (1.2800 on the 4h) for bearish reversal signs. Looking for a return to 1.2600 and then another challenge of 1.2500.

(click to enlarge)

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2 Comments on "Technical Analysis – EUR/USD Bear Trades"
  1. Reply
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    Comment left on:
    December 1, 2008 at 12:17
    Joe F. says:

    Sell dips?

  2. Avatar of piphut
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    Comment left on:
    December 1, 2008 at 13:45
    piphut says:

    Thanks for catching that. I changed it to “sell rallies”

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