EUR/USD: Sell bellow 1.3486 - for February 08, 2013 (Daily Strategy) Trend News

The euro which fell on Thursday amid the President of the European Central Bank, Mario Draghi’s speech during the ECB press conference, managed to walk from the start of trading on Friday, after reaching its lowest at 1.3370 yesterday. Many operators do not expect any significant news and as a result many left the euro. Now we can observe the effects on the market. Therefore, we are confident that this pair will continue its downtrend to support daily fractal 1.3240, 1.3350. Although, it should be noted that there is a line of long-term downtrend that if the pair finds support it is likely to be a rebound in this area, below this level the fall to 1.3240 will accelerate and even it may move towards the psychological level of 1.30. The momentum indicator is in the neutral zone with a small upward bias.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

The material has been provided by Instaforex Company - http://www.instaforex.com/



For detail explanation and best discovery on market trends you may visit via EUR/USD: Sell bellow 1.3486 - for February 08, 2013 (Daily Strategy) . Thanks for your support on EUR/USD: Sell bellow 1.3486 - for February 08, 2013 (Daily Strategy)

GBP/USD: Sell below EMA 200 - for February 08, 2012 (Daily Strategy) Trend News

The Pound takes uptrend in the short term, after breaking on the H4 a line downward, 1.5770. Yesterday it closed above the 61.8% Fibonacci retracement. The price of British currency increases and already has exceeded 1.58 in these minutes, in a move that does not correlated with the other European currencies. This pair remains bearish even in the medium term. If you look at the chart below, the pair has had several attempts to overcome the level of the 200 day moving average periods and failed. So we recommend selling below this level at 1.5880 with targets at 1.5614 and 1.5440. A daily close above 1.5910, the trend will be changed completely and it is likely this pair continues rising until 1.60 psychological level, and strong resistance level of 1.63.

The indicator of commodities is approaching overbought zone.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

The material has been provided by Instaforex Company - http://www.instaforex.com/



For detail explanation and best discovery on market trends you may visit via GBP/USD: Sell below EMA 200 - for February 08, 2012 (Daily Strategy) . Thanks for your support on GBP/USD: Sell below EMA 200 - for February 08, 2012 (Daily Strategy)