Forex Signals: Eur-Usd, Mr.Draghi to favor the decline? Eur-Usd, daily Price Action chart. Eur-Usd: the daily chart of the main Forex pair shows a very clear downtrend closed within a bearish channel that has pushed down the Eur-Usd from the 2-year top of last May 1,40 to the current support level 1,3120 (floor of the last 12 months). The price is moving below the moving average both in the daily and weekly time frame and, after having closed the gap of last week, is now accumulating above the just mentioned support. In recent days, the euro appears in small recovery although it is less evident due to the stronger US dollar. Undoubtedly the most advisable strategy is to enter this downtrend looking for a short trading signal possibly in the level 1,32 although we could also evaluate a break-out of the zone 1,31. Tomorrow we will have the very important monetary meeting of the ECB and the potential new accommodative measures by Mario Draghi that could facilitate the depreciation of the euro and therefore a more rapid fall of the Eur-Usd firstly to the 1,30 level and then to the area of weekly support 1,2750. Maurizio Orsini mauriforex youtube/user/adduho1
Posted on: Wed, 03 Sep 2014 09:39:12 +0000
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