The euro is pushed downward, waiting for some important data and maybe for the solution that is credible in the long term. As it is known, the market does not trust the meetings and conventions of European leaders.
In this context, the euro remains its downtrend, the range and Momentum indicators as well while being in oversold area showing an imminent rebound upward, apparently the area is likely to rebound at 1.2145 level daily fractal. We, therefore, recommend paying a lot of attention if you have short positions. If you do not want to buy, we recommend sell after the upward trend bounces around 1.2400.
If you need a personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
If you like my Technical Analysis, please vote for me by clicking here!
