The euro has not lost a medium-term uptrend for two reasons. The first one is it is trading above the 200-day moving and the second is the Momentum Indicator is above the moving average of the MACD, you can observe it on the graph. If in the next days the euro price enters and consolidates below it, then we note that there is a downward trend. Therefore, we now recommend buying the pair above 1.2990 with targets at bearish channel ceiling around 1.31.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
