Daily Technical Stategist EURUSD

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Monday, 03th of Sept, 2012 DAILY
TECHNICAL STRATEGIST EURUSD
FXTechstrategy Team
info_at_fxtechstrategy.com
  EURUSD Bull Pressure Sets Up For 1.2672/1.2748
Levels. EURUSD EURUSD Having continued to
maintain its recovery strength, EUR looks to
build up on further gains in the new week. As
long as it holds and trades above the 1.2442
level, the risk is for it to recapture the
1.2634/72 levels. A breach will aim at the 1.2748
level where a breather may occur and turn the
pair back lower. However, if this fails to occur,
expect the pair to strengthen further towards the
1.2824 level. Its weekly RSI is bullish and
pointing higher supporting this view. The
alternative scenario will be for the pair to
return to the 1.2442 level. A reversal of roles
as support is likely here but if that fails to
occur the pair could weaken further towards the
1.2239 level. A clearance of here will set the
stage for a move lower towards the 1.2132/17
levels. Further down, support stands at the
1.2040 level. All in all, EUR continues to face
upside recovery threats. To read the full
version of this 7 model currency analysis click
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