Good morning my dear friends. We will study the EUR-USD pair today May 7, 2014. Graph that you are observing is the Fibonacci expansion. This expansion shows that the area of 1.3661 which corresponds to 61.8% is a pretty strong resistance area for the trend that has taken the EUR_USD par. Today the President spoke of the Federal Reserve and that will largely define where we are going to lead. We think it's going to start a kick, given that resistance of 1.40 is strong enough, then we expect the pair to decline from 38.2% we will expect at 1.3848, if less than 50% as we wait in 1.3815 and the last kick to that could reach the pair, before starting a downtrend in the 61.8% to reach 1.3781. Everything depends on what day, tell the president of the Federal Reserve. Equally bullish channel anyway posing on daily chart, makes us think that not showing the MACD and RSI indicates that for this week the pair begins a process of regression to the Fibonacci levels back commented.

 

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