Thursday, August 9, 2012

EUR/USD on Wed 8-Aug-2012

Market went up towards 1.2450, without reaching the anticipated resistance level, and fall for 100 pips in 24 hrs.

The range is small, but get to expand a little bit with today's fall.
Unlike what we have anticipated - a sharp fall down, market is coming down gradually, and reach the price level which is neutral - and I anticipate another 24 hrs of sideways movement.

short term view (1 day) - sideways - bias up, towards resistance - 1.2400.
support 1.2330.

I am anticipating a resistance at 1.2400 to enter shorts with TG1: 1.2250, TG2: 1.2150.


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