EURUSD Technical chart | 21-May-2012

Below is the technical chart of EURUSD, using Doda-Donchian and Doda-Bollinger bands.

Although both the above mentioned indicators have buy signal, it’s better to ignore these signals as this currency pair is trading near high resistance zone.

On the upside, resistance is at 1.2819 and 1.28226. It can kiss these levels in coming trading days. 1.2774 is the immediate support.

Sooner or later, it will resume its downtrend journey.