FX.co ★ EUR/USD sell bellow 1.3101- for March 05, 2013 (daily strategy)

The euro remains on the psychological level of 1.30. This morning during the American session it was trading at 1.3034. We expect an upward movement until the resistance of 1.31 in this area it is the weekly pivot, which will provide downward pressure. So we recommend selling this level, with objectives to weekly support 1.2888. If the pair closes the day above 1.31, it will invalidate our bearish outlook. On the other hand, if you look at the technical indicator in the chart, it is under downward pressure; there has not yet been bullish signal. So any increase in the pair must be considered as an opportunity to sell this pair.

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