A sharp and aggressive bearish wave below the euro/dollar pair peak levels which it has only reached about a week ago, at around 1.4270, the current minimum levels are at around 1.3700, due to the renewed concern related to the debt crisis in Europe. The technical picture of the pair shows that about a month ago the pair operated in a horizontal movement and stagnation after the last bearish wave, and now the pair operates in the lower range of stagnation and is expected to return to the top.
Also, the American relief plan, which is estimated to weaken the dollar against the euro, helps the pair from below, and also the positive deviation in the indicator that accompanies it secures the best outcome. The trigger to take long position on the pair is conditioned on logoff above 1.3805 resistance level. The break of this level will represent the first step of the upward trend, which has the potential to reach the 1.4600 resistance level, and thus conclude with the stage of stagnation.
