EUR/USD
Investor concerns regarding the economic state of Portugal have burdened the European currency, which recorded sharp declines in the last five days of trading, both against the dollar in particular and other leading currencies in general. The Euro – United States dollar pair dived about 500 points from the peak levels of 1.3400, which it visited recently, to the low levels of 1.2900, where it is currently trading.
An upwards breach expected to pave the way back to a level of 1.3000, and later on even to a resistance level around 1.3380. The stop loss movement can be placed in a relative proximity, slightly under the last local low around 1.2850. We must point to the positive deviation on the MACD indicator, which supports positive predictions on the pair.
