empty
 
 
24.01.2013 06:39 PM
EUR/USD sell bellow 1.3398 - for January 24, 2013 (daily strategy)

The euro continues to consolidate above the 1.33 level this morning in the American session. According to the technical analysis, this pair has a very strong resistance at 1.3398 and this level is the 61.8% retracement of Fibonacci, the long-term downtrend. If the pair closes above 1.34 it is most likely that in the coming months this pair may be trading up to 1.40, next target for the bulls.
From my analytical perspective, I think this pair should make a correction to 1.31 and then take upward force. But we must be very cautious with this pair, because the last few weeks the market has been moving only by emotions. Now it is time to decide which way you want to go, downward or upward. You must be very attentive to the breaks of 1.34 or 1.3240.

This image is no longer relevant

If you need personal consultation, contact me via e-mail: [email protected]

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback