Forexpros Daily Analysis - 08/12/2010

ForexPros Daily Analysis December 08, 2010


The EURUSD pair has hit a major support at 1.31948 and has moved back up.

However, from my previous analysis of this pair, it has broken down the major support on the daily chart.

On the 4 hour chart, you can see that the price is unable to create higher high which is a sign of weaknesses in the buyer.

As a whole, I will continue to look for short opportunity for this pair as long as it breaks below the 1.31948 support level.

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Forex Trading analysis written by Kelvin Lee for Forexpros.

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