The euro is still under the downward pressure due to the various problems that continues in the eurozone. According to technical analysis, we noticed that the euro has reached the base of the short-term bearish channel. Now it is now trading at 1.2902, above the 200 day moving average, which adds the pair a bullish outlook for the next few days. Given that our momentum indicator is still in positive divergence and the euro found support above the channel and is located above the 200 EMA (blue), it is recommended to buy this pair, with targets to fractal,1.3006 and more up until the middle line of the channel 1.3225.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
