FX.co ★ EUR/USD Technical Analysis for February 26, 2013

DESCRIPTION :

Since the 1.3225 has already been broken by this currency pair a few days ago, the EUR/USD have a destination target at 1.3025, as long the 1.3326 has not been touched. For now it seems that downside movement will continue, and this situation is caused by the price touched the Moving Average 100 (Green). So watch up for the 1.3000 level if the momentum is not strong enough, there will be a pullback to the upside after touching this level.

Recommendation:

SELL Stop (Pending Order) @ 1.3049.

Take Profit @ 1.3035.

Stop Loss @ 1.3059.

Alternative :

BUY Stop (Pending Order) @ 1.3101.

Take Profit @ 1.3115.

Stop Loss @ 1.3091.

Best regards,

Arief Makmur

Official Analyst of InstaForex Companies Group

InstaForex Companies Group

https://instaforex.com

Email : Arief.jakarta@indo.instaforex.com

Blog : blog.mt5.com/arief

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.