Yesterday the euro had a moderate rise, keeping the figure technique we were talking about. It is likely to rise to the level of 1.2830. There are resistance and weekly moving average of 200 periods. Our medium-term outlook remains bearish below 1.2850. At this time it is not recommended to sell, as there is a struggle between buyers and sellers, as the market could take a break to 1.2830, and then resume its downward path. You can wait for this level to sell strongly, or buy now at low leverage.
As you can see from the chart, the euro found support above 1.2643, forming a leg. It is likely to form the second leg for this level again, before bouncing upwards. On the other hand, a close above the daily fractal of 1.2760 increases the odds of a bullish move higher.
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