GBP/USD - Fractal support at 1.5081 - for May 21, 2013 (daily strategy)
Today after the release of the UK inflation report, the British pound has fallen. It grew less than expected, making stumbling to the British currency to its lowest since April 4. In the medium term the pound remains a downward trend that could be extended to the 1.48 area. Now, in the short term there a support on the daily fractal is at 1.5081. This level will be the immediate support that could push it up, so we expect that upward bounce is in this area. Therefore, we recommend buying this level with targets to 1.5335 fractal.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
AUD/USD - Key level of 0.9818 - for May 21, 2013 (daily strategy)
On Monday, the Australian dollar was recovering positions, but it has declined again today. Given that this pair has had a free fall, now it is at least in the 0.9720 support level. On the other hand, indicators on the H4 and daily charts continue to show a high probability of the Aussie recovers, especially if it breaks the 0.9840 area. If that happens you can buy at that level with targets in the first week of 0.9927 resistance, or you can sell according to the point entry suggested on the chart. At a fundamental level, this pair is fluctuating, especially after the interest rate cut by the RBA.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
EUR/USD - Buy above 1.2880 - for May 21, 2013 (daily strategy)
The euro did not experience greate changes in the last few hours and there are significant variations. Although, according to the indicator of fractals, this pair is consolidating below 1.2878, daily fractal. If the euro closes the day below 1.2855, the fall could be fast until the next fractal 1.2599. On the other hand, a recovery of the euro has target in the area of the psychological level of 1.3003 and at the level of the 200-day moving average, which coincides at 1.30. Therefore, we recommende buying above 1.2880.
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