FX.co ★ EUR/USD - buy above 1.2820 - for April 05, 2013 (daily strategy)

Yesterday the euro managed to recover positions after it was under the downward pressure that led the U.S. dollar to 1.2730 level, finding strong support in the daily fractal. However, at the end of the day it closed above the 200 day moving average periods (blue) which increases the probability of an upward movement of the pair, for the next few days. Looking at this chart, you can see a bullish channel. You can also note that the euro is likely to try to break this downward channel. But we think it will only be a chance to buy the pair at low price. However, it will be difficult for the euro to remain bullish, because it is on the way up to 1.3250, with much resistance as the daily Fractal 1.3004 psychological level. Therefore, we recommend to operate this pair after the U.S. Non-Farm Payrolls released, as the pair will be very volatile and may be detrimental to your account in the chart below we trace the points of entry for today's session.

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