The EUR/USD exceeded its weekly pivot level, which increases the probability of an upward move for the next few days. This movement is due to an unexpected growth in Germany ZEW index, which marks the financial climate in the country. ZEW Economic Sentiment has given the euro a strong bullish momentum.
Currently it is trading above 1.2983, daily fractal. A close in 4 hours charts above this level could be key to an upward movement. On the other hand, below the 1.2983 level you can sell, with targets to 1.29, very strong support level.
Tomorrow the market will be very volatile it will last till weekend, so we recommend caution.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
