EUR/USD Daily Forecast,
would the Euro remain bullish or bearish? /MBCFX
/02/20/2013
EUR/USD
Technical Analysis: by using the: Moving Average, Parabolic SAR,
Stochastic, Alligator, RSI, and MACD
indicators
http://www.mbcfx.com/news/news_en.html
The EUR/USD rose
yesterday as it was affected by the Euro zone positive news.
However this effect
would be only on the short term trading because of the deteriorating outlook in
the Euro zone, which will lead to the decline of the major currency against the
U.S. dollar and other currencies.
So we expect that the EUR/USD will test the
Moving Average 100 at the 1.3465 level, which would represent good
opportunities to sell.
And as we have
mentioned yesterday, that any rally of the EUR/USD, would represent good
opportunities to enter sell positions, and to take some profits at the
mentioned key support levels , as we remain expecting that the general trend of
the market would remain bearish.
Therefore, we expect that
the EUR/USD would retreat towards the 1.3306-1.3280 area, and if it breaches
down this area, this would confirms the decline of the prices to the Ichimoku
top level at $1.3208 , then towards the Moving Average 500 at the 1.3135 level.
The following indicators:
Parabolic SAR, Stochastic, Alligator, RSI, and MACD, also indicate the bullish
tend on the short term, but support the bearish trend of the prices on the
average and long term trading.
