FX.co ★ EUR/USD Buy if Close Above 1.3100 - for March 16, 2012

The EUR / USD pair is breaking its downtrend channel, though it is not strong enough. We cannot confirm the change of trend yet considering that the strong resitance level 1.3130 is fractal crucial. It is expected to put pressure on the pair but only a weekly close above 1.3100 will confirm the bullish trend for the next few days.

Therefore, we recommend Buy-positions above 1.3100 with a short-term objective seen at 1.3365.

The MACD indicator range and are showing bullish signals.