Eur/usd - Technical Commentary, Trading Strategy, and Support and Resistance Levels

Eur/usd - Technical Commentary, Trading Strategy, and Support and Resistance Levels


RBS has given the following technical commentary, trading strategy, and support and resistance levels:
TECHNICAL COMMENTARY: Much on the same theme as yesterday as the notion of the neckline is confirmed by the support found there from price action yesterday. It still looks to me (analyst) that if there were to be a break it would be higher. The trade would be relatively cheap here too with a fairly tight stop sub the neckline around 1.2310. Keep positions light until the blue line which is the previous highs has been breached through 1.2439. Take profit just before the potential resistance at 1.2650
-Should I be wrong then the support comes in at 1.2136 and the lows at 1.2047
TRADING STRATEGY: Small longs to 1.2650 on tight stop beneath the neckline at 1.2310
SUPPORT LEVELS: 1.2341, 1.2293
RESISTANCE LEVELS: 1.2439/45, 1.2539




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