EURUSD ROLLING DAILY

The pair continues to move sideways in the range from 1.2860 to 1.2980, with the main feature to reduce volatility. The general trend in the weekly chart is strongly downward. 

 

Support is at 1.29, at 1.2860 and at 1.2800 / 1.2750 (low of 2013). The rate in the past has shown that "test out" such critical levels. We believe that these levels will occur buyers. 

 

Not opposed to the downward trend. A rebound to at least 1.30 / 1.31 would act as a partial correction to the sharp drop last week. Besides, do not forget that the pair has lost more than 1.000 pips in a few months. 

 

The purchasing trades is good to have short-term profit, while at positions short selling (short) use stop capable to maintain our position as we try to take advantage of the downward trend, having in mind that there may be an upward reaction technique even more than 1.30 in the coming days.