HighSky (HighSky)
Currencies  |  December 13, 2012 12:18:00

EURUSD first major turnaround this week

Following our last comment, we see that the main currency pair eurusd proofread by more than 76.4% when the correction we can still talk to the previous peak, which stands at 1.3126. In the week mentioned maybe head shoulders formation has taken place when a couple in the last days passed easily 50% Fibo retracement that could predict right shoulder. So we'll see whether current bullish absorption, which can be seen H4 chart, will result in lower than current levels.

eurusd, daily comment

Technically, it could be expected, only the ratio of bulls and bears by sentiment index is quite aggressively placed in favor of the euro. At the end of the week, thus we will see whether you have correctly called the end of wave (II) and thus entry into the radical wave (III).Negation of the preferred scenario is the price mentioned above 1.3126. Major support is now far and lies on the border of around 1288.

Josef Kvarda, Analyst

HighSky Brokers, Inc.

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EURUSD první větší otočka tohoto týdne

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