Yesterday the euro rose to 1.3005, daily fractal; our target which we mentioned last week. However, at the moment it is showing a sign of exhaustion in the uptrend. The 1.2950 it is showing a little support level at the moment. If this level is broken, it can accelerate the fall to 1.2870 and further down to 1.2820. On the other hand, it is likely to be a pullback to 1.2984, new fractal. We recommend selling at this level and the stop loss should be above the maximum of this week.
Given that the deadline for the new stimulus is on 13 December, the euro is likely to move between very strong ranges between 1.28 and 1.30 levels. So caution is recommended, you should sell at the resistance and buy at the supports.
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