FX.co ★ EUR/USD Buy Above 1.3095 for March 8, 2012

The EUR/USD pair

The EUR / USD pair has rebounced from the last month's low, finding a support in the W_S1, having rebounded to the level 1.3236. Considering that this position is crucial for the future movement of the euro, we believe that if the level of 1.3100 remains unbroken, the euro will reach the 1.3394 level, i.e. the area of the first weekly resistance and the fractal formed in 1.3403

Therefore, we recommend Buy-positions in the correction of this upward sequence at 1.3144 (fractal) with a target at 1.3390 level. The Stop Loss is recommended below 1.3095 weekly support.

MCD and Range Indicator show a positive divergence and a stronger bullish movement.