EUR/USD Daily Forecast ahead of the ECB and Interest rates decisions 05.022013 /MBCFX
The EUR/USD rose to reach the expected targets that we have mentioned yesterday, so we wish that you have benefited from our analysis.
Today we expect
that EUR/USD will retreat at the beginning of the trading session
towards the key Elliot wave area of 1.3146-1.3120 which would represent a
strong barrier of the prices , then if it breaches this area , if will
rise to the 1.3190 and 1.3205 levels.
We also draw the
attention of our dear traders that the EUR/USD is going to form the
second shoulder of the Head and Shoulders pattern, so we expect that the
close of this week will be at the 1.3085 and 1.3040 levels.
Most of the technical indicators give us downward signals on the 1 and 4 hours term trading , but upward signals on the daily term trading.
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