EURUSD 22.02.10-26.02.10
GBPUSD . EURJPY . USDCHF . Economic Calendar for the week
Euro still fell to 1.3441, but the fall was stopped by the Fibonacci support level of 61.8% from last year's growth. Hopefully, Friday's growth has been under a least some fundamental basis, and not a trivial correction at the end of the week. But apparently, the strong growth of these levels should not wait. Here it is in the Greek problem and expectations of growth in interest rates in the U.S.. In addition, last month the American continent came out better than expected data, whereas in Europe swelled problem in Greece.
Despite the above, from a technical point of view, the euro / dollar has reached a very strong level of support, which is located in the area of 1.3430-1.3480. Given the strong oversold, it is likely that the participants of the Forex market will be used for profit-taking, leading to congestion in the range of 1.3430-1.3850. A possible correction to 1.3850 and exit points of the signal line histogram indicator MACD .
Recommendations:
- Buy to 1.3780, limiting losses below 1.3410.
- Sell at 1.3790 1.3650 with the immediate goal, with the possibility of falling to 1.3480. Stop Loss 1.3860.
- Trade in the range 1.3470-1.3840.
