The euro in the Asian session was trading at this level of 1.3276. The Fed said yesterday that persistently low inflation could hamper the economic expansion and pledged to keep buying $85 billion in bonds every month. This data originated that the euro has a strong bullish momentum towards 1.3336 area. On the other hand, we observe the Momentum Indicator that has a small space to touch the area of the moving average of the MACD. If it is likely, it supports a bounce that would reflect that the euro could bounce off the 1.3325 area, and if the Momentum Indicator MACD sharply falls it could be a good sell signal, which confirmed the closure would remain in daily graphs below the fractal of 1.3230. So we leave the following recommendation drawn on the graph.
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Performed by Gerardo Porras, Analytical expert InstaForex Group © 2007-2013 |
EUR/USD - Key fractal 1.3230 - for August 01, 2013 (daily strategy)
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