Euro At Long Term Resistance Levels In All Major Pairs; 13th February 2013

Euro At Long Term Resistance Levels In All Major Pairs; 13th February 2013

Just flicking through the charts tonight and I happened to notice the Euro is at or very near some major long term resistance levels across nearly all its pairs.

On its own this scenario is no guarantee of a reversal but its a solid sign that there will likely be some good trades from most of these charts sometime in the near future. Whether those trades are on the long side following breakouts or on the short side following confirmation of price rejection is unclear at the moment so the key is to watch for clues ahead of trading the strongest/weakest one of the lot. EUR:NZD isn’t pictured here as it’s arguable whether its currently at resistance but it could be the pair to watch for clues because EUR is generally its weakest against the NZD so a break down would be accelerated on this pair, whilst a break up could be a great indicator of Euro strength ahead of entering a long Euro position on one of the pairs listed below.

Here are the charts as they stand.

EUR:USD

EUR USD Daily res 12th Feb 2013

EUR:JPY

EUR JPY Daily Res 12th Feb 2013

EUR:GBP

EUR GBP Daily res 12th Feb 2013

EUR:CHF

EUR CHF Daily res 12th Feb 2013

EUR:CAD

EUR CAD Daily 12th Feb 2013

EUR:AUD

EUR AUD Daily Res 12th feb 2013

In the meantime….let’s watch and wait!

If I choose to enter a position in one of the above pairs, I’ll post details in the comments section below this post ahead of providing a full detailed analysis as soon as I’m able to.

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