By: Dima Chernovolov

I recently subscribed to Autochartist’s latest e-mail feature and received this trade opportunity alert this morning. Autochartist’s latest feature provides traders with a quick morning technical outlook of the markets.

EUR/USD continues to fall in accordance with the following trade opportunity alert that I received today for this currency pair. The pair is set to reach the target level 1.2837 in the next 13 hours. This target level is in itself the Key Support Level (of the type Approach) which has been recently identified by Autochartist on the hourly EUR/USD charts. The pair recently corrected up from the support area close to the strong support level 1.2750 (which previously reversed the pair sharply up at the start of April). The upward correction quickly lost its momentum – given the prevailing medium-term downtrend which is affecting the pair now. Look for the pair to fall to the target level 1.2837 in the next 13 hours.

As you can see from the following Volatility Analysis chart for EUR/USD, the lower boundary of the daily Expected Price Range calculated by Autochartist for this pair (1.2831) nearly coincides with the target level given in the above trade alert (1.2837) – which heightens the probability that the Euro will soon reach this target.

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