EUR/USD – Sell bellow fractal 1.2879 – daily strategy for May 17, 2013
May 17, 2013 3:00 pm
The EUR/USD pair continues its downward move. This morning it has been trading below 1.2879 daily fractal. Given the downward pressure is latent, we recommend selling below 1.2879 fractal, more you can sell now at current price levels. It is the nearest target, so you are at the area of support of 1.2730. On the other hand, on the H4 a close above daily fracal will be another opportunity to buy the pair with a first target into the 200-day moving average. It is likely that during the next week the euro can reach low level, 1.2602. We therefore recommend selling, after the pair makes any correction to the pair.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
The EUR/USD pair continues its downward move. This morning it has been trading below 1.2879 daily fractal. Given the downward pressure is latent, we recommend selling below 1.2879 fractal, more you can sell now at current price levels. It is the nearest target, so you are at the area of support of 1.2730. On the other hand, on the H4 a close above daily fracal will be another opportunity to buy the pair with a first target into the 200-day moving average. It is likely that during the next week the euro can reach low level, 1.2602. We therefore recommend selling, after the pair makes any correction to the pair.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
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