The euro again registered a minimum in the area, 1.2841, area of the 200 day moving average. The fact that the pair has been rejected by the EMA 200 is a proof that the pair is still in a bullish sequence that for the next few days could reach 1.3250 level quickly. However, the economic outlook is not encouraging for the euro, due to situation on Cyprus. Using technical analysis, we have a key level of 1.3006 fractal. If the pair reaches this level we have two options: one to sell below this level, with objectives to 1.2870 support, there other is if the pair closes the H4 above this level, you can buy, with objectives to cover the gap at 1.3074, and further up to the level of 1.3250.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
