Click on the images for a better view.
After the big drop the Euro took yesterday, today is a day of regaining some strength. On the left daily EUR/USD graph we can see it managed to advance up to around 1.2750. Now it strives to get back inside the Bollinger bands. Stochastic is pointing up so we could witness an Euro day at least for the several hours. The reason for such movement could be seen on the lower time-frame graphs.
Still the bigger picture stays negative for the Euro concerning it US Dollar value.
On the 4 hour graph (which today shows almost the same patterns as the 1 hour) we see the Stochastic is pointing strongly upward. So up to its next measurement (which would be at 12 AM or after about 2 hours) the Euro could advance further against the US Dollar.
A possible level to be reached is the one marked with a horizontal red line on the graph - around
1.283/50. This is the 38.2 Fibonacci retracement level on the last big down movement of the Euro.
A warning sign could be seen on the smaller time-frame graphs (30 min and less) which until they are cleared, could make the market suffer a greater volatility.
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