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The Euro-Dollar pair fell on Friday. Even the increase in exports from Germany, almost twice than expected, did nit manage to change the direction of the euro movement, which was emerging in the Asian session, when the price was supported by 1.2527 uptrend line. The second graph below shows the situation before the break of the trendline.

On a technical level we note that the Eur/Usd pair is trading above the Weekly pivot point around 1.2448 and is more likely to be a technical rebound by the strong support level, but a break of that level will accelerate the fall of the pair to the nearest fractal of 1.2337.

In a view that the pair has stopped at this level will most likely increase to 1.2520. (fractal h4) at this level, we recommend sell targets 1.2337 with stop loss at 1.2550. If you want to buy, you can do it only above 1.2448, and with  very tight stop loss below this level. (WPP)

The stochastic indicator is below 50% showing a little more fall but somewhat depleted in the bearish signal.

If you need a personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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Performed by Gerardo Porras Palomino, Analytical expert
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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