The euro is trading at 1.2710 below the bearish channel, as you can see on the chart there is only a sharp break, that may carry up to 1.2805. The euro has stalled in the hope that the Federal Reserve announced plans to stimulate the economy through monetary easing measures, today at midday. it could resume its upward trend.

On the other hand, the pair looks a bit exhausted, the indicators are showing a potential bearish reversal, at least up to the weekly pivot 1.2600.

Therefore I recommend you to buy above 1.2725 only if the break is sharp, a break at a leisurely pace, it could be a hoax. On the other hand, I can advise you to buy if we want to wait for the correction of the pair 1.2600 with targets at 1.2730, and 1.28.

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Performed by Analytical expert: Gerardo Porras Palomino
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