EUR/USD Signal - Feb. 22, 2013

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By: DailyForex.com

The break of the bullish oblique support that was holding the EUR/USD pair for several months is confirmed in terms of technical indicators by the break of the RSI support. We are also seeing a divergence of the Bollinger Bands which opens the door to a larger movement of the markets towards the next support zone at 1.2990.
Direction: Sell
Entry: 1.3290
Stop-loss: 1.3345
Take-profit: 1.3010

EUR/USD Signal

Maxime Parra has been trading since the age of 18, and he is now in charge of technical and fundamental analysis at BNRY.com and Tmarkets.com. Fascinated by the psychology of financial markets and technical analysis, he is also the head of the “Fédération Sud Finance” and is preparing for the Degree of the Chartered Financial Analyst (CFA) level 1 at the SKEMA Business School. Maxime favors trend following strategies by combining chartist analysis with the use of technical indicators.