FX.co ★ EUR/USD consolidation (sell bellow 1.34)- for January 23, 2013 (daily strategy)

The EUR/USD pair has stopped below the weekly resistance, 1.3398. It takes several days for the pair to consolidate above the level of 1.3250. These days many short-term traders have obtained good returns, while operators of medium- and long-term expect the euro breaks bluntly the levels of 1.34 or 1.3240.

If you observe the chart you will notice that the euro has a strong fractal 1.3240, a close below this level will start to bear, a strong downward trend that could push the euro to 1.30. The new upward wave will be confirmed only if the pair closes above 1.3410. Meanwhile, we are waiting for this pair makes the decision what way it wants to move.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com