Dear traders,
As for the EUR/USD pair we are keeping to observe the uprising from May 6 structure though for the moment the price is close to the canceling of its development.
Forecast for May 13:
For the EUR/USD pair the important levels today are: 1.3106, 1.2974, 1.2911, 1.2861, 1.2760, 1.2597, 1.2493, 1.2443 and 1.2321. Here the ascending since May 6 structure in spite of the deep downfalling correction remains up-to-date. Breaking through the level of 1.2597 will lead to the repeal of the rising trend development, the target here is 1.2493, within the corridor of 1.2493 – 1.2443 there is a price consolidation. The potential low is considered the level of 1.2321, having reached which an upward recoil is awaited. A short-term growth is possible after getting through the level of 1.2760, in this situation the aims are not defined. In the corridor 1.2861 – 1.2911 a consolidation movement is expected, from this area a chance for a downward rebound is high. On the whole, the development of an increasing structure since May 6 is forecasted after the level of 1.2974 hitting, the first target is 1.3106.
Trading recommendations:
Buy: 1.2760 Take profit: 1.2809
Buy: 1.2974 Take profit: 1.3106
Sell: 1.2597 Take profit: 1.2493
Sell: 1.2443 Take profit: 1.2321
