EURO Bearish Trend Is still in Favor

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Master Trader
May 12, 2009
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The pre-planned short positions from key resistance range levels were implemented with achievement of basic anticipated targets. OsMA trend indicator, having marked relative bearish activity rise, nevertheless, as earlier does not clarify the choice of planning priorities for today. Therefore, considering further rate rage movement, we can assume probability of rate return to close сопротивлений 1,3940/60 resistance levels, where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of a shorter time interval. As for short-term sales, on condition of the formation of topping signals the targets will be 1,3880/1,3900 and (or) further break-out variant up to 1,3820/40, 1,3760/80, 1,3700/20. The alternative for buyers will be above 1,4060 with the targets of 1,4100/20, 1,4180/1,4200, 1,4240/60.

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