The EUR/USD pair in the early sessions has reached its low at 1.2952 since January 25. From this level the price recovered, though it still far from filling the gap left by the Friday's closure at 1.3087.
According to the chart above we can see that the euro has a strong downtrend. Despite the fact that the indicators are entering the oversold levels. The weekly support level 1.2945 will give a break and the price will probably rebound with the objective that will cover the gap left in the beginning of this week .
Therefore, we recommend buying 1.2950 with short-term objectives at 1.3149.
Gerardo Porras is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.
