EUR/USD: Sell bellow 1.3486 – for February 08, 2013 (Daily Strategy)
The euro which fell on Thursday amid the President of the European Central Bank, Mario Draghi’s speech during the ECB press conference, managed to walk from the start of trading on Friday, after reaching its lowest at 1.3370 yesterday. Many operators do not expect any significant news and as a result many left the euro. Now we can observe the effects on the market. Therefore, we are confident that this pair will continue its downtrend to support daily fractal 1.3240, 1.3350. Although, it should be noted that there is a line of long-term downtrend that if the pair finds support it is likely to be a rebound in this area, below this level the fall to 1.3240 will accelerate and even it may move towards the psychological level of 1.30. The momentum indicator is in the neutral zone with a small upward bias.
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