Wednesday
Jun132012
Forex Trading Analysis: Spanish Yields Rising, Euro Sinking
Wednesday, June 13, 2012 at 7:37AM Share Now
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About all you can say positively for the EURUSD at this point is that after falling over 250 pips from its highs on Monday, the pair found support at 1.2425 and has twice bounced off that level. Nonetheless, with Forex traders selling first and asking questions later, buyers shouldn’t get too comfortable with the support as it could evaporate quickly. With the negative bias currently in control, we favor shorting the EURUSD on any move above 1.2520 with stops at 1.2540.
