FX.co ★ EUR/USD technical analysis for January 29, 2013

DESCRIPTION:

Yesterday, the Eurozone released the M3 Money Supply y/y, but the result did not satisfy market participants. Eventually, the EUR/USD got stuck at the 1.3475 level, this currency pair was trapped in the sideways situation between the support 1.3425 and the resistance 1.3475. Now we are looking for today news releases: GfK German Consumer Climate and the German Import Price Index m/m. We hope this news will give good momentum and volatility for this currency pair to break their support or resistance.

Recommendation:

Buy stop pending order at 1.3476

Stop loss at 1.3466.

Take profit at 1.3490.

And

Sell stop pending order at 1.3424.

Stop loss at 1.3434.

Take profit at 1.3410.

Best regards,

Arief Makmur

Official Analyst of InstaForex Companies Group

InstaForex Companies Group

https://instaforex.com

Email : Arief.jakarta@indo.instaforex.com

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