FX.co ★ EUR/USD Buy above 1.3079 for February 27, 2013 (Daily Strategy)

The euro reached stability at 1.3050 - 1.31 remaining in the downtrend while waiting for new fundamental data, that can give volatility, which may be found in Ben Bernanke's, the Fed chairman to the Chamber of Representatives, and Mario Draghi's, President of the ECB, presentations in Germany.

Given that the euro is on the top step of support. It is likely that if the pair closes below the psychological level of 1.30, it may fall to the level of 1.27 in the coming days, the nearest support on weekly charts. Now it is recommended buying with small lots given that this pair still remains under bearish pressure, above 1.3079 support you can buy with objectives to the downtrend line.

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