What is the next target of the EUR/USD for today /MBCFX /02/19/2013
EUR/USD
Technical Analysis: by using the Ichimoku indicator, Stochastic, Parabolic Sar,
Alligator, RSI, and MADC indicators
The EUR/USD was almost
steady during yesterday’s trading sessions due to the market thin liquidity because of the US
Presidents’ Day.
So we remain following
the same daily chart that reflects a bearish wave during the next trading,
especially after official reports held during the weekend showed that the
European countries had recorded the largest economic contraction by 0.6% during
the last quarter of 2012 year.
And this data comes the decline of the economies of Germany,
France and Italy, at higher expectation rates
.
According the mentioned
economic data, we see that today the market would react on the negative impacts
of the mentioned news.
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
The following
indicators: Parabolic SAR, Stochastic, Alligator, RSI, MACD, also support the
bearish trend of the prices.
