The euro continues to fall due to unrest in Spain and concerns about whether the Greeks again cover their deficits.
Right now the euro is trading above the 200 day moving average periods, if the pair breaks this level below 1.2800, this will be the last dynamic support. Due to this, we are not necessarily ready to start going short on the euro, although we feel that over the time this pair will go much lower. We have to pass the level of 1.2750 before we become too bearish.
Weб thereforeб recommend buying at 1.2850 with objectives to nearest resistance of 1.3127.
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