The week turned out to be complicated and controversial. Let’s try to summarize the results.
As we had noted before the pair reversed and tested 1,1300. But the movement down didn’t continue. The Euro returned back to 1,1320. There is no attempt to break this resistance up. The situation continues to be a bit controversial. We confirm that if the trendline breaks up the target will become 1,1370. Though the main trend will still be bearish.
There are signals from indicators to buy on working 1D TF. To open long positions, we think that it’s reasonable to wait for the breakthrough of the trendline. The target will be 200-EMA (0,7250).
The pair fully reached the noted target 8,5600. If the trendline breaks down it will be possible to open short positions with the target 8,5000 and 8,4230 after. In case of bouncing back – it will be better to buy long positions on US currency.