EUR/USD
Technical Analysis: by using the Stochastic indicator, the Head and Shoulders
pattern, Parabolic Sar, Alligator, Aroon, CCI, and MADC
indicators
As we have expected
yesterday, the EUR/USD rose significantly to the mentioned levels, and has
succeeded in forming the second shoulder of the Head and Shoulders pattern.
Today we expect that
the prices would retreat towards the 1.3384 level, and if it breaches down this
level, this would support the shift of the general market trend from bullish to
bearish trend, then it would retest the 1.33 and the 1.3260 levels.
But if the EUR/USD will
not succeed in breaching down the key support level of $1.3384, this would
indicate the rise of the Euro against the US Dollar, and to maintain its
recover.
The following indicators: Parabolic Sar, Alligator,
Aroon, CCI, Stochastic and MADC indicators give us downward signals on both 1
hour and 4 hours charts, and this confirms what we have mentioned above.
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