The euro during the European session managed to have a bullish momentum reaching the level of 1.3092, strong resistance level. This morning and during the American session the pair made recoil and right now is trading at 1.3032. It is likely to fall to the 1.2990 zone. At this level we recommend buying the pair back with zone objectives to bearish channel resistance around 1.31. On the other hand, the Momentum Indicator is in support of the moving average of the MACD and still has not been broken down. We do not see a bearish signal for the euro. Therefore, we recommend buying the pair at support levels.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
