Eurusd chart update hourly 16 December 2011

Been a while didn’t update my blog.

So here is my latest Eurusd Hourly chart, notice how we broke the downside channel after we tested 1.2950.

On the upside 1.31 is key resistance and above we would see further resistance at 1.3170-80. My bet currently is for a bearish flag as long channel holds.

Chart 1h

eurusd 1h 16-12-2011

Your comments too are welcome and you can always reach me on twitter @fx_13.

(Please click on the forex chart thumbnail to enlarge)

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