EUR/USD had a busy day during the session on Thursday as the market is as if trying to find some support to recover from oversold conditions.
It is speculated openly that the Federal Reserve will increase the quantitative easing soon - the reason for the dollar to be sold a bit recently.
According to the global situation worldwide, the euro seems extremely weak, so a rebound is treated simply as an opportunity to sell. The reason for the trade does not seem exactly solid and I suspect that any rebound will be sold fairly quickly.
According to the line of fractals noticed a strong support at 1.2150 the break of this level will initiate new minimum, whose objective is 1.1890.
Moreover, a rebound in the support line will provide us with the opportunity to buy at very low prices for targeted of the strong resistance of 1.2400.
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