EURUSD – Intraday Strategy (24 Dec 2013)

EURO-Dollar-min

Recommendations: SHORT positions below 1.3722 with 1.3670  & 1.3640 as next targets.
Alternative scenario:The upside breakout of 1.3722 will open 1.3750/1.3790
Description: The pair trades below its resistance 1.3722 , stability below this level will keep the pair under pressure with risk towards 1.3667 ahead of 1.3624 levels, below 1.3624 would open 1.3550 next .On the upside, break of 1.3722 on hourly basis would only delay the bearish move for retesting 1.3755/1.3790 levels before the next fall, to reverse risks to the upside; sustained trading above 1.3810 is needed, otherwise the risk will remain to the downside even in case of bullish correction .

 

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