There is the bullish sentiment on EUR/USD now. The ECB head Mario Draghi supported the euro. The ECB will take a decision to reduce the quantitative easing program in the near future. Most likely, these changes will occur in October. The Central Bank also raised the forecast for the GDP growth this year.
At the same time, I don’t rule out a technical correction. The EUR/USD currency pair formed a rather strong reversal formation – the divergence of price and MACD histogram. I plan to open positions from key levels.
I’ll sell EUR/USD, if the price fixes below the 1.2035 local support. The goal for taking profit is the 1.2000 round level.
I’ll buy the pair, if it fixes above 1.2090. It may move to 1.2125-1.2150.