Yesterday during the session the euro slid again. However, in the medium term we maintain a bearish outlook. However, at this time if we sell it may be a bit risky, because the pair is oversold. So, as you can notice on the chart during the early American session the euro has had an upward movement. Thus, we will wait for the return to the daily support, 1.2680 and 1.2650. At these levels we will buy while waiting for a more sustained upward bounce, back to the resistance of 1.2840.
At a fundamental level, the Spanish bonds are rising again; it shows that people have less and less faith in Spain. Germany is slowing down and heading toward a recession, albeit slight, this increases the likelihood that in the medium term the euro will be traded at the level of 1.25.
The MACD indicator on the 4H chart is oversold. It is likely that in the next few days there will be an upward bounce, before the fall continues.
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