As you know I think that the rise of the euro started from 1.2457 (3 March) finished with a bearish triangle as is shown on the chart. So in my opinion the fall should reach at least 1.2884 (61.8 % retracement of the rise started from the beginning of Mach). The first phase of this fall finished at 1.3113 and a correction started from there. It has a potential to reach one more yesterday€™s high 1.3341. However I expect later beginning a new fall with minimum target the indicated 1.2884. A key resistance is 1.3590 (but this level is currently too far from the market). A key support is 1.3113
Trading strategy: 06:46 EST; 11:46 GMT
Short position from 1.3280
Exit the short position at market (1.3237) with profit 43 pips
Sell again on up-move to 1.3340, stop loss - 1.3450, target - open
This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.