EURUSD Technical Analysis for May 03, 2013
By
Felipe Erazo
PUBLISHED:
03 May 2013 @ 12:37
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More info about Felipe Erazo
The EURUSD had a bearish session yesterday, approaching to the support at the psychological level of 1.30, a very important zone.
The EURUSD fell 200 pips since the economic data released yesterday, which favored the U.S. Dollar. For today’s session will be published the now famous Non-Farm Employment Change (Previous: 88K / Forecast: 146K). If EURUSD breaks the support at the 1.3000 level, is likely to fall to 1.2800 level in the medium term. Be cautious in the current price which is this pair, because there are a lot of indecision in this area. If economic data today, become positive for the U.S. Dollar, almost certainly the EURUSD will break that important psychological support. For our bearish outlook gets invalidated, the EURUSD would have to break the resistance level 1.3200, which is unlikely in the short term.
The MACD indicator is in neutral territory, which indicates a lot of indecision in investors with this pair.
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