Euro-Dollar Analysis, December 6th 2012 (English Language)

Good afternoon,

hereunder is your video-analysis of the Euro FX currency futures for today December 6th:

Price moved below 1.3055 and then went to test the all the way half way back short in the 1.3080-90 area. So far it found resistance and, as I write, price is moving down into the first target at 1.3025.  The second target is in the 1.2985-90 area, well within the next support area starting at 1.3000-10.

If price continues lower after hitting the 1.3025 target we could see it holding at around 1.3000. We need to witness a break of the sequence of measured moves short on the 4-hour chart before we can commit capital again to our swing longs.

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Have a good day

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Filed under English language, Euro FX analysis and trade setups videos, Forex

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