Euro-Dollar Analysis & Forecast, February 21st 2013 (English Language)

Hello traders,

Here below please find attached the video-analysis of the Euro FX currency futures for today February 21st:

Yesterday evening the Euro FX pierced the 1.3276 level that we were closely watching and that decreed the opportunity of a larger move into the 1.2900 area. Indeed, the market continue lower and the selling resumed during the Asian session.

The Euro also hit the first target in the 1.3270 area and is now headed into the 1.3130, where we could get a bounce.

Euro FX futures contract, 4-hour chart - February 20th, 2013

Euro FX futures contract, 4-hour chart – February 21st, 2013

The plan is the same as yesterday (see above picture). If the relative lows are in at the 1.3474 level (due to an inner traditional move) we could see a retrace into the 1.3240 to 1.3300 area before the move lower can resume.

The target is now confirmed at 1.2900 and it is just a matter of how and when price can get there. This could happen in the coming two weeks.

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Have a good day

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Filed under English language, Euro FX analysis and trade setups videos, Forex, Trading Plan

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