FX.co ★ EUR/USD correction - for February 01, 2013 (Daily Strategy)

During the early American session, after the jobs data from the United States, the euro has lost ground after having nearly reached the level of 1.37. According to technical analysis of chart, you can see that the euro is trading above the fractal of 1.3621. If the pair closes below this level and below the 15 period EMA (green) there will be the signal to sell this for as part of the correction. We expect to have its bottom in the strong support level of 1.34, which coincides with the fractal 1.3410. If you noticed, the Momentum produced a signal and we consider it to be a bearish one.

Therefore, leave the levels of negotiation for this weekend and the next week.

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