FX.co ★ EUR/USD - sell bellow 1.3140 - for April 10, 2013 (daily strategy)

The euro could not overcome the strong resistance level of 1.3140/50. It had a stop at 1.3121, this area is very strong. If you remember last time the euro reached this level and dropped to the minimum 1.2736. Given that it is almost 400 points in the rebound and the pair is already in resistance zone, we recommend selling at current price levels with short-term objectives to the 1.2920 area, around the 200 day moving average. Looking at the chart you will notice that our momentum indicator is in overbought area which is likely to be a correction of the pair, at least to the psychological level of 1.3004.

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