2013/04/08
EUR / USD 8-4-2013
The spot rate is currently testing the upper limit of its medium-term bearish
channel at1.3040 suggesting a decline. However, a break of this level will
initiate a violent bullishchannel. Technical indicators provide sell signals and
until the resistance is not broken the assumption of a decline is most likely.
Bollinger bands are much iscardedas a result of a strong increase these days.
Stabilization is expected in the short term.
The spot rate is currently testing the upper limit of its channel, we suggest 2
scenarios. The first one is the hypothesis of a decline where we recommend a
sell on the level of 1.3040 with the 1st objective at 1.2980 and then at 1.2960. A
breakthrough of 1.3060 will invalidate this scenario. The second scenario is a
break of its resistance where we advise a “buy stop” which means to buy the
spot rate as soon as it is broken through its resistance of 1.3040 with the 1st
objective at 1.3100 and then at 1.3120. A breakthrough of 1.3020 will invalidate
this scenario.
Good luck
channel at1.3040 suggesting a decline. However, a break of this level will
initiate a violent bullishchannel. Technical indicators provide sell signals and
until the resistance is not broken the assumption of a decline is most likely.
Bollinger bands are much iscardedas a result of a strong increase these days.
Stabilization is expected in the short term.
The spot rate is currently testing the upper limit of its channel, we suggest 2
scenarios. The first one is the hypothesis of a decline where we recommend a
sell on the level of 1.3040 with the 1st objective at 1.2980 and then at 1.2960. A
breakthrough of 1.3060 will invalidate this scenario. The second scenario is a
break of its resistance where we advise a “buy stop” which means to buy the
spot rate as soon as it is broken through its resistance of 1.3040 with the 1st
objective at 1.3100 and then at 1.3120. A breakthrough of 1.3020 will invalidate
this scenario.
Good luck
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