EUR/USD daily forecast, would the Euro remains bullish or will shift to bearish? /MBCFX/03/01/2013



EUR/USD daily forecast, would the Euro remains bullish or will shift to bearish? /MBCFX/03/01/2013

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

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The EUR/USD witnessed a great volatility yesterday at 105 points, and has reached the highest level at $1.3157, and lowest level at $1.3052, but it closed by a bear candle,

And we remain expecting further decline of the prices , especially after it has  entered  within a Down Kumo trading , after it breached down the ascending channel, and this confirms the decline of the EUR/USD towards the Ichimoku support level of $1.2960,
and 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. Which is indicated the following 4 hours chart :




In this chart, we notice that the EUR/USD is decreasing on the short term trading, but we expect it would recover on the next trading session after reaching the above mentioned levels.

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, then upward signals on the average term trading.

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