EUR/USD daily forecast ached of the G20 meeting and the Italian and European trade-balance data /MBCFX

EUR/USD daily forecast ached of the G20 meeting and the Italian and European trade-balance data /MBCFX

EUR/USD Technical Analysis: by using the Stochastic indicator, the Head and Shoulders pattern, Parabolic Sar, Alligator, Aroon, CCI, and MADC indicators
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As we have mentioned in our weekly market analysis, the EUR/USD declined yesterday, and we are still following its direction on the daily chart.

Also as we have expected before, the Euro has formed the Head and Shoulders, and has resumed its trading within the ascending channel, so this confirms the bearish trend towards the 1.3260-1.3230 area  at the Moving Average 500, which the prices did not breach it since January 23,2013 .

We also notice that the following indicators: Stochastic, CCI, Aroon, Alligator ,Parabolic Sar, and MACD  give us downward signals on the 1 hour and 4 hours charts, and this confirms what we have mentioned above.

We draw the attention of our dear clients to monitor the G20's meeting of the financial ministers  starting today in Moscow, and wait their decisions which will affect most of the currency pairs, especially the currencies that include the EUR.