DESCRIPTION:
In the daily chart the EUR/USD yesterday already made a Bearish Engulfing (Bearish Outside bars) Formation pattern; although in the 60-minute chart the price already exceeded the Exponential Moving Average (14), (34), & (100). This is the confirmation that the EUR/USD have changed its course from going up to going down.
Recommendation:
Sell at 1.3499.
Take profit at 1.3455.
Stop loss at 1.3529.
Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com
Email : Arief.jakarta@indo.instaforex.com
Disclaimer:
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.