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FX.co ★ EUR/USD Buy Above 1.3330 December 01, 2011 (Weekly Strategy)

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Forex Analysis:::2011-12-01T13:25:24

EUR/USD Buy Above 1.3330 December 01, 2011 (Weekly Strategy)

EUR/USD Buy Above 1.3330 December 01, 2011 (Weekly Strategy)

EUR/USD

The pair Euro - U.S. dollar has recovered from the downward pressure that led to the minimum of 1.3250, when yesterday registered a maximum of 1.3530, almost 300 pips rebound after the announcement that major central banks would coordinate efforts to ensure that there is no shortage of global liquidity crisis due to the current euro-zone.

We must be attentive to the response to be given to the situasion of the crisis; has been given a period of 10 days for financial decisions.

We therefore recommend be cautious because this scenario has not yet even finished.


At the level of technical analysis, we note that the euro has broken an overwhelming its downtrend, we even lack the "Pull Back" that arises whenever a pair trends change, so we recommend buy at lower levels of 1.3330 (this level coinside with weekly pivot point) with a target end of the year to the level of 1.3830 dollars per euro.

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