EUR/USD Intraday Technical Analysis

**InstaPoster** · 06-14-2012, 07:31 AM

The spot rate is now checking the upper border of its medium term bearish channel at 1.2650 and seems to start declining. Though a puncture of these levels will release good potential and initiate a violent bullish trend.
Technical indicators provide buy-signals and approaching overbuy zone supporting the assumption of a decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
Taking into consideration the previous events the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 1.2650 with the 1st objective at 1.2710 and then at 1.2730. A break through 1.2630 will invalidate this scenario.
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**angel3750** · 06-14-2012, 04:50 PM

I have long position and stuck at the higher level about 1.873 (avg) should i hold it for book my loss ?

**budado** · 06-15-2012, 02:40 AM

Originally Posted by angel3750

I have long position and stuck at the higher level about 1.873 (avg) should i hold it for book my loss ?

Really? When did eur/usd reach that high? If I remember it correctly the highest eur/usd get is 1.5830. that not even close to your 1.873 average. And since your average is 1.873 I'm wondering what is your highest long position? Because theirs no way you have this position since eur/usd never reach that high at all. Not even close.