What is the Next Target of the EUR/USD / MBCFX Technical Analysis Team 02/01 /2013

nancyadvisor

Trader
Aug 31, 2012
3
0
17
EUR/USD Technical Analysis after the release of negative US data








Chart of the Day:


EUR/USD




The Euro recovered against the US Dollar, due to the US negative news, especially the U S central bank has claimed to continue buying bonds, also, the postponement of the QE3 program until the end of the year 2013,aand the rise of the US Jobless Claims, this results the aversion of the investors to trade US Dollar in order to hedge against inflation, so these news have pushed the Euro high towards the 1.3634 level.

We notice on the weekly chart that the prices have breached almost the Moving Averages, and the monthly candle has closed within the cloud,

So today we expect that Euro would continue its rise towards the 1.37 and 1.3680 levels.
 

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
16
32
Canada
I think it will drop below 1.3000 and maybe retrace to 2013 lows below 1.2800.
 

mumuy

Active Trader
May 3, 2013
193
4
27
I think the Euro is now heading into negative territory due to German's poor economic data, and the USD is now gaining.