Hi all,
The EUR/USD prices witnessed a special week that ended with success in breaching the resistance level of 1.2588, and although the Euro returned to trade on the mentioned resistance levels , but this shift of the market direction on the average term trading give us a signal that the EUR/USD is likely to be able to target the 1.2742 levels during the current week.
The most technical indicators continue to be in positive levels such as the Stochastic and MACD which have not yet reached the overbought levels on the average term, and the breaching of the mentioned resistance level confirms that the prices would continue its rise.
On the short term ,the impulsive Wave lays at the 1.2653 level, so if it breach up the key resistance level of 1.2588 , it would push the Euro to rise to 1.2608 level and then towards the 1.2653 level.
At the same time, the support levels are remaining at $1.2476 which represents the most important barrier to any shift of the bearish trend.
Nice trading
Source http://www.mbcfx.com/news/news_en03_09.html
The EUR/USD prices witnessed a special week that ended with success in breaching the resistance level of 1.2588, and although the Euro returned to trade on the mentioned resistance levels , but this shift of the market direction on the average term trading give us a signal that the EUR/USD is likely to be able to target the 1.2742 levels during the current week.
The most technical indicators continue to be in positive levels such as the Stochastic and MACD which have not yet reached the overbought levels on the average term, and the breaching of the mentioned resistance level confirms that the prices would continue its rise.
On the short term ,the impulsive Wave lays at the 1.2653 level, so if it breach up the key resistance level of 1.2588 , it would push the Euro to rise to 1.2608 level and then towards the 1.2653 level.
At the same time, the support levels are remaining at $1.2476 which represents the most important barrier to any shift of the bearish trend.
Nice trading
Source http://www.mbcfx.com/news/news_en03_09.html
