Forex4you Technical Analysis 05 December 2012

EUR/USD: Technical Analysis

Eurodollar has corrected back from a strong resistance level of pivots situated at 1.3120. It has found support at the trend-line at 1.3090. Overall the up-trend is still intact and it will probably recover, with 1.3167 still a key level, which if breached could lead to a strong move higher; however, a break below 1.3050 is a possibility and would open the way to a move down to 1.3000, if the pull-back extends.

Analysis by: Joaquin Monfort
Forex4you analyst

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