The euro is hesitating regarding its upward trend. According to technical analysis, we notice a fall of the pair, at least in the next few hours until 1.30. The break of this level will lead you to the weekly pivot of 1.2964. The market is waiting for Draghi's speech; you have to be very careful. We recommend selling this pair if there is a pullback to the resistance level 1.3112 weekly. On the other hand, you can sell at current price levels of 1.3066 to low leverage. The break of 1.3049 will open the way to the 1.30 and 1.2964.
As we mentioned, the euro is in a consolidation channel from 1.3150 to 1.27. Therefore, below 1.3150 you can sell with much optimism. Technical indicators are showing overbought. It is imminent that the euro continues to fall.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
The material has been provided by Instaforex Company - instaforex.com
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