The EUR/USD pair could not overcome the strong resistance of 1.2630. At this moment it is showing a slight correction with the next target at weekly pivot of 1.2558, the break of this level will indicate the beginning of a new bearish sequence until the nearest support of 1.2480.
We, therefore, recommend selling below 1.2558 pivot, only if the pair closes the 4 hours charts with objectives to 1.2480 and 1.2390. The stop loss will place it above the high of 1.2630.
MACD indicator is entering an overbought area, bearish correction is imminent.
Given that this week there will be announced a lot of fundamental data, we recommend being careful with the size of our positions.
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