The EUR/USD pair rose during the trading session on Thursday after finding support at 1.2823 just above the 200 day moving average periods and after bouncing above the triangle technical pattern.
The Euro is moving only by speculation. For example, there are rumours that Spain inches closer to seeking a sovereign bailout, it should be also noted that S&P downgraded Spain's credit rating.
On the other hand, if the Euro breaks below the triangle pattern or is trading below the 200 day moving average, that would be a bearish signal. So we begin to sell strongly this pair.
As for buying this pair, we recommend the target of 1.3030, the bearish channel. If the top edges bankruptcy, we can buy it back at the level of 1.3245.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
If you like my technical analysis, please vote for me, in the portal MT5.com, please login and then vote for me. Thanks.