FX.co ★ EUR/USD: Sell bellow 1.3155 - for April 19, 2013 (daily strategy)

The euro is moving around 1.3050/1.31, though without very specific direction for the American session. The fractal level 1.3155 is the resistance, it becomes very strong. On the other hand, the level of 1.30 is key to the start of a new bearish sequence. So we have to wait for a daily close below 1.30 in order to start selling. Its first downside target is the level of 1.29, there the 200 moving average is located. Below this level the fall of pair might be quick to 1.27/1.25 level. It is unlikely to observe the scenario with general decline, because the euro always seems to find a reason to keep. We must be careful, because this pair has always reacted to headlines and as a result it can act very irregular. The Momentum Indicator is in overbought area which adds a bearish outlook for the pair.

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