EUR/USD
Daily Forecast, would the bearish trend continue? /MBCFX
/02/22/2013
EUR/USD
technical analysis by using the Head and Shoulders pattern and the Moving
Average indicator
The EUR/USD declined
yesterday as we have expected in our daily market analysis, to reach the 1.3158
level, then rose a little as a correction step which confirms the bearish trend
of the prices.
As we remain expecting
that the Euro will continue its bearish trend, especially by forming the Head
and Shoulders pattern on the daily chart,.
We also wait the EUR/USD to reach the Moving
Average 500 at the 1.3135 level, and the next expected target would be towards the
1.3050 level.
The almost technical
indicators remain supporting the bearish trend.
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