EURUSD Fundamental & Technical Analysis (April 22, 2013)

Last week, the EURUSD made ​​very volatile movements but failed to leave the range in which it currently is.

The EURUSD is near the bullish trend line and support at the 1.3018 level. If the EURUSD does make a bearish candlestick breakout in the trend line and support, the EURUSD could fall to support at the 1.2873 level in the medium term. It may be noted that there is some indecision among traders in this pair, because the MACD indicator is in neutral territory and all this is due to mixed economic data that were published last week in the eurozone and in the United States and also , the G20 and IMF meetings meetings, which caused some volatility in all pairs, but these meetings, left more questions than answers among investors.

On the other hand, if the EURUSD does make a breakout with a strong bullish candlestick at resistance level 1.3127, could rise to the level of 1.3228. We must wait for the EURUSD outside of that range, to make trading decisions in this pair for this week.

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