The EUR/USD pair rose moderately on Thursday. It is likely to rise to the level of 1.2830. There is resistance and weekly moving average of 200 periods. Our medium term outlook remains bearish below 1.2850. At this point, it is not recommended to sell, since the pair is rebounding from 1.2660 minimum, so you should be attentive to the level of 1.2830, as the market could pause to 1.2830, and then resume its way down. On the other hand, if the pair closes above 1.2860, a new upward sequence will begin.

As we can see, the pair will be consolidating in the range 1.2650 to 1.2830 until the end of the month. Below 1.2650 the market could become very bearish. Above 1.2860, very bullish.

According to the chart, you can decide whether to buy above 1.2760 fractal or wait for reverse of the pair to 1.2685, and buy, targeting to 1.2830. If you have sell strategy, it is recommended to wait until the 1.2830 level because there is much resistance.

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