FX.co ★ EUR/USD Buy Above EMA 200 for September 25, 2012 (Daily Strategy)

The euro is trying to recover from the last wave bass as part of the correction of the rally, if we notice the euro in the graph above the 200 day moving average period, it will increase the likelihood of bullish movement in the medium-term. We, therefore, recommend buying at current levels with objectives to 1.3117 resistance and finally to 1.3250.
Moreover, at fundamental level the Europeans are in a recession, but the Federal Reserve has announced that it will be more flexible for an "unlimited" amount of time and because of that the dollar has been beaten against almost all currencies and this, of course, includes the euro.

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