EUR/USD technical and fundamental analysis ahead of the major European and US news /MBCFX/02/28/2013

EUR/USD technical and fundamental analysis ahead of the major European and US news /MBCFX/02/28/2013

EUR/USD technical analysis by using the Slop Line, the Ichimoku , FX5_Divergence MACD, and the Moving Averages indicators 

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The EUR/USD declined to reach the 1.3016 level, then it witnessed an upward correction step towards the 1.3070 level.

However, we remain expecting further decline of this pair towards the Ichimoku support level of 1.2980, and if it breaches down this level, the next target would be towards the 1.2906-1.2883 area, which would represent a good opportunity to enter buy positions, because after that we expect the EUR/USD would rise as an upward correction step.

The bearish trend is also confirmed by forming many divergences between the trends of the prices and the Oscillator trends, which is indicated through the FX5_Divergence

The following indicators: Slop Line, MACD, and the Moving Averages also give us downward signals and support the bearish trend for the next trading session.