FX.co ★ EUR/USD Rebound Above 1.33 (Key Level) - For February 14 , 2013 (Daily Strategy)

The euro is trading at 1.3328 at the time of this analysis writing. The pair is near its support level of 1.33, the break of which would generate a strong decline further against the dollar, seeking a minimum objective of 1.3150. If you look at the chart, there is a line that crosses the 1.3305 level, this line on the 61.8% of all long-term bearish, so this level is very important. If the pair closes below this level in the next few weeks it could reach the psychological level of 1.30. On the other hand, the momentum indicator is in oversold zone and there is likely to be a bullish rebound, so if you sold yesterday, according to our suggestions, below 1.3486, now it's time to take profits, and today you can buy this pair with a stop loss at 1.3275, below the 100 period moving average.

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