EUR/USD – Strong resistance 1.3006 – for May 22, 2013 (daily strategy)
May 22, 2013 4:00 pm
This morning the euro was trading higher the daily fractal 1.2877. Given that this pair is showing an upward bias, it is likely to stop the rise in the resistance of 1.3006, a level that coincides with the 200-day moving average. This area is a very strong resistance level because in the preceding weeks it served as support and resistance. Thus, this level is considered to be key. Given that during the American session, there will be data that may influence pairs which are traded against the dollar, so we recommend great caution and sell at the resistance levels.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
This morning the euro was trading higher the daily fractal 1.2877. Given that this pair is showing an upward bias, it is likely to stop the rise in the resistance of 1.3006, a level that coincides with the 200-day moving average. This area is a very strong resistance level because in the preceding weeks it served as support and resistance. Thus, this level is considered to be key. Given that during the American session, there will be data that may influence pairs which are traded against the dollar, so we recommend great caution and sell at the resistance levels.
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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