EUR/ USD has fallen back to the region of 50% and near the 61.8% of Fibonacci retracement. The 1.3110 level is a strong resistance, only the break and close the quote above this level, confirm our bullish outlook.
Therefore, we recommend buying above 1.3110 and if there is a continued downward sequence, we offer buying at 61.8% of Fibonacci retracement of around 1.2970. As our objective is to exercise bullish, we will place it at the first monthly resistance around 1.3540 dollars per euro.
The range indicator is at 50% and is showing a neutral signal, the Momentum indicator is in oversold area and an imminent upward bounce.
