The euro is moving below 1.33, a value that has been touched several times in recent days, but without breaking of 1.3230, (daily fractal). Thus, it is keeping the pair in an apparent indecision. A low of 1.32 accelerated the loss of the single currency looking at least the 1.3130 area in a few hours. On the other hand, a pullback to the last area of 1.3380 fractal would be a good selling opportunity. We recommend great caution, as our outlook is bearish for this pair, supporting our view, the Momentum Indicator is about to touch the MACD line; if it breaks it, it would be a bearish signal and we can sell the pair with objectives to 1.3066 fractal.
If you need personal consultation, Skype: gerardofx or contact me via e-mail: gerardo.porras@analytics.instaforex.com
