Yesterday the EUR/USD pair had a slightly bullish session, but the growth was stopped as there is the level of the 200 day moving average (blue) at 1.2810 periods. It crosses above the downtrend line. It is likely that the euro continue rising to the level of 1.2835. This level will give us the opportunity to sell the pair, because of the continuous downward pressure. On the other hand, if the pair manages to break the downtrend line, we can buy this pair again. But if the break is very weak, we should only consider it as a widening of the bearish channel.
At fundamental level, France lost its AAA credit rating from Moody's at the end of the day. It increases the bearish outlook, which could affect the euro in the following weeks.
So you can take your trading decision according to the following chart .
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For detail explanation and best discovery on market trends you may visit via EUR/USD Bearish Outlook - For November 20, 2012 (Daily Strategy) . Thanks for your support on EUR/USD Bearish Outlook - For November 20, 2012 (Daily Strategy)
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