FX.co ★ EUR/USD - Buy long above 1.30 - for June 27, 2013 (daily strategy)

The euro fell during yesterday's session to around 1.30 psychological level. This level is important as it attracts a lot of attention of market participants, the fall of the euro also was found in first support weekly, 1.3007. This level is key to defining the movement of the euro, so above 1.30 the pair may ascend to the level of at least 1.32. If the pair closes below 1.30, it is more likely to observe a fall to the level of 1.28. However, given that the euro is trading above 1.30, we recommend buying with short-term objectives to 1.3120 and 1.3212. Observing the MACD indicator, we note that this is showing a sign of a likely rebound, because it has reached the base of the bullish channel, which guides the Momentum Indicator. This increases the chances of a bullish move above 1.30.

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