The EUR/USD pair
On Tuesday in the American session the EUR / USD pair was trading in a downside movement depicted on the 4H timeframe entered the phase of stagnation around the first weekly support in 1.3047. This level is an important fractal that supports the pair and the line of the 61.8% Fibonacci retracement of the upward sequence of the pair.
Investors expect the today's release of the Fed data, so we believe that the pair will be traded within the range after the appearence of the fundamental data.
Therefore, we recommend Buy-positions in two points: above 1.3100 with the resistance level1.3365 (W_R2) seen as target, and the further 1.2970. We recommend Buy-deals at that level with expecting that the price reverse to upwards and a wave will go further to the point 1.3365.
The range indicator is showing the oversold levels, MACD indicator provides the deeper bearish signal.
