The euro benefited from the data that was published by the Federal Reserve, which made the impression that many of the members are more than willing to intervene and ease monetary policy if the U.S. economy does not recover soon. This was bad for the dollar and the euro which benefited as the result and reached the maximum of July 4 at 1.2570.
At the technical level, we note that secondary downtrend line is intact and there may be a correction of the pair to the support of 1.2410. We can visualize both of levels on the chart. Given that the pair is in a bullish mood, we recommend buying with targets 1.2570 and above 1.2650. The stop loss will place it below the support of 1.2410.
If you need a personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
If you like my technical analysis, please vote for me, in the portal MT5.com, please login and then vote for me. Thanks.
Gerardo Porras is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.
No comments:
Post a Comment