EUR/USD – sell bellow fractal 1.3155 – for April 12, 2013 (daily strategy)
April 12, 2013 3:45 pm
The euro did not manage to break the strong resistance level of 1.3150. It made an attempt to break the level of 1.3076 this morning, below fractal 1.3155. Although we believe that this pair must make a correction to the level of at least 1.2910. On the other hand, the break of 1.3155 level will start a new sequence that could lead upward to the level 1.33 and above to 1.35. So we should monitor this level. If the pair closes on weekly charts above this level, it increases possibility of an uptrend in the medium term. So, looking at our chart, we recommend sell at any price below 1.3150 with targets at 1.2910. The Momentum Indicator is in overbought area, the fall of the euro is imminent.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
The euro did not manage to break the strong resistance level of 1.3150. It made an attempt to break the level of 1.3076 this morning, below fractal 1.3155. Although we believe that this pair must make a correction to the level of at least 1.2910. On the other hand, the break of 1.3155 level will start a new sequence that could lead upward to the level 1.33 and above to 1.35. So we should monitor this level. If the pair closes on weekly charts above this level, it increases possibility of an uptrend in the medium term. So, looking at our chart, we recommend sell at any price below 1.3150 with targets at 1.2910. The Momentum Indicator is in overbought area, the fall of the euro is imminent.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: