DESCRIPTION:
As the Dow hit and broke the 14.000 level; the EUR/USD pair has made a new 52-week high too. But after it made a new 52-week high, the EUR/USD pair started to decline again. Since the 1.3525 break on January 30, 2013, this pair has to make a journey to the 1.3725 level today. If it cannot reach, the bullish momentum for this currency will be hold. Maybe after the ECB Meetings this pair will be continue or find a new course for the EUR/USD pair. For now the EUR/USD pair has already trapped between the 1.3600 (support) and the 1.3700 (resistance).
Recomendation:
No recomendation for today.
Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
https://instaforex.com
E-mail: Arief.jakarta@indo.instaforex.com
Disclaimer:
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
