Stock investors are waiting anxiously for economic stimulus package. As the Federal Reserve today is publishing the minutes of its last meeting, this could have a drastic effect on this pair. If there is any indication of quantitative easing in this publication, the euro could have a rally up to the level of 1.2670.
Many investors may want to close their sales orders and the pair can return to 1.2386 support, this will be a good entry point to buy the pair within the short term objectives to 1.2520, and further up to 1.2670.
The indicators on the 4 hour chart, showing overbought position at the end of today's session will define the direction that the pair will maintain in the upcoming days.
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