EUR / USD: Possible Return

As we mentioned in other analysis , was possible that the euro reached the 1.39/1.37 and we weren`t wrong. But now we are in a zone of possible rebound. Searching rebound in the area of 1.37.

Short-term situation:

We are in the area of 61.8% Fibonacci, and as we have seen the previous day has been bullish for a possible return. We considered that the area of 1.37 would be a good pivot point, where the bulls would seek to find a strong enough support for a change.

Therefore we consider the possible scenarios. Bulls may find support at 1.37 strong enough to cause a rebound towards areas of 1.41/1.43.

In the event that this rebound will not occur, and support can not stand 1.37. The possible scenario is that the euro will continue until 1.35/1.30 areas, being the base area of 1.30 the previous bullish channel.

Trend Situation:

As we have seen the euro has steadily lost support as it fell. It is therefore possible that prices are brought to the band of 1.25/1.35.