The euro after falling nearly 300 pips this morning after recovering positions have found support at the psychological level of 1.30. This was our goal that we were talking about in our previous analysis last week, now given the euro is in strong support levels, it is likely to be a rebound to the downtrend line and even weekly pivot level of 1.3255. Therefore you can buy above 1.3079 and if the pair again hit the low, you can buy at support levels around 1.3015. On the other hand, analyzing all this fall of the euro, we realized that this pair is about to enter a downward cycle, if you look at the weekly chart, which could have a range of about 550 points, leading the single currency to visit 1.25 / 1.26 in the coming weeks.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
