FX.co ★ EUR/USD Bullish Outlook for July 26, 2012 (Daily Strategy)

This morning the euro had a break from the sharp downward trend that was pressing. At this moment it is trading at 1.2295 due to the announcement from the European Central Bank President Mario Draghi. He announced that the presiding entity is ready to take whatever steps are necessary to preserve the euro.
This message appears to Draghi as a reversal of the ECB, which under pressure from the IMF and the United States should take concrete measures to prevent further euro devaluation.
According to the 4 hour chart we notice that the EUR / USD has formed a trend reversal pattern at least in the long term, we hope to reach the levels of 1.27 1.29 1.33 before the pair should get out of this downward pressure, as there are strong levels of resistance.
We, therefore, recommend buying weekly pivot at 1.2220 with targets at 1.2320 and 1.2410.
The range indicator is showing that more remains up.

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