FX.co ★ EUR/USD - sell bellow 1.3140 - for April 09, 2013 (daily strategy)

The EUR/USD pair managed to cover the gap it left on March 15, reaching 1.3072 level. Given that according to the pivots, strong resistance is located at the level of 1.3130/50. Last week it pushed down the pair. The pullback is likely to take place at these levels, so you can sell below 1.3140 with targets at the 200 day moving average around 1.2910. If it closes above 1.3150, it is likely that its objective is 1.3250/1.33 level. This movement is reflected by the momentum indicator approaching the oversold area. Therefore, we believe that before the bearish sequence the euro attempts to break the level of 1.3150.

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