Repeating a pattern for the last 10 days, every time the Euro has posted a bull day, it’s followed with a down day and last week was no exception. After forming a combo pin bar + outside bar last Thursday, the pair reversed almost all the losses after initially climbing higher. This is going to really put pressure on the bears at the 1.2815 support level. Any break and close below here could see the pair unwind quickly to the 1.2754 level before finding any bulls, and possibly to 1.2700 in a hurry. Short term goes to the bears camp so watch for clues at 1.2815.
Showing a little more resistance to the greenback charge last Friday, the …