EUR/USD – Strong support at 1.3002 – for June 25, 2013 (daily strategy)
June 25, 2013 4:30 pm
Yesterday the euro had a stop at the 200-day moving average (blue). This area still guarantees the permanence of a likely move higher, because this morning the data on the US Consumer Confidence came out better than expected, 81.4 vs. 75.2 in the previous month. Before the data was published the pair traded at 1.3117, leading it down. We believe that if this pair enters the area, the fall will be fast 1.3050 to the first weekly support, 1.3002, which in turn is a psychological level price, so in this area we recommend buying the pair with objectives to 1.3211 resistance. In addition, the technical indicator of MCAD, before the fall of the euro started trading at 1.34. Last week, it gave a bearish signal. It continues to show bearish signal now, so it is recommended to continue selling in the levels of current price, but one should be cautious since 1.30 always defines the trend of the pair.
If you need personal consultation, Skype: gerardofx or contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
Yesterday the euro had a stop at the 200-day moving average (blue). This area still guarantees the permanence of a likely move higher, because this morning the data on the US Consumer Confidence came out better than expected, 81.4 vs. 75.2 in the previous month. Before the data was published the pair traded at 1.3117, leading it down. We believe that if this pair enters the area, the fall will be fast 1.3050 to the first weekly support, 1.3002, which in turn is a psychological level price, so in this area we recommend buying the pair with objectives to 1.3211 resistance. In addition, the technical indicator of MCAD, before the fall of the euro started trading at 1.34. Last week, it gave a bearish signal. It continues to show bearish signal now, so it is recommended to continue selling in the levels of current price, but one should be cautious since 1.30 always defines the trend of the pair.
If you need personal consultation, Skype: gerardofx or contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
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