EUR/USD fractal 1.3621 for January 31, 2013 (daily strategy)
Yesterday in anticipation of the Fed data, the EUR/USD showed uncertainty, many traders expect a strong move above 1.3580. However, this morning during the American session, it is showing signs of exhaustion in its uptrend, we expect a move up to the 1.3621 fractal, the technical indicator is bearish. We must be cautious because later this month many expect to take profits, and the movement can be strong until Friday morning in both directions, so our bearish signal will be activated if the pair closes in the 4-hour chart, below the moving average of 15 period at 1.3520 level. We will place our first target at 1.3410, the Fractal level, and ultimate goal in the 200 day moving average – at 1.3250 periods. If you want to buy, we recommend buying the support daily or weekly. In the long term, this pair is in the area of 1.40 psychological level.
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