2.12.2012 – EURUSD weekend analysis

Currently EURUSD is still in the uptrend and although it took a big "SELL BUTTON" hit last week it is still looking bullish from weekly point of view. Major decision point for the pair is the 2870's zone which acted as a support and resistance in previous instances. Judging according to the last reaction of 2873 level, the pair can rebound as high as 2950's and 2970's where first major sell orders are lined up. At the moment the down side price action looks heavy but the overall picture sill signals otherwise. Let's see how it unfolds after the Sundays open.

 

Have a good one.

 

JK