Fundamentally, Euros remains status quo(no change) since the recent low at 1.1866 , The continuing rising costs for their new Bonds issue indicate fading confidence from investors, and More bad news from France Financials and Spain may be imminent.
US upcoming NFP numbers release on this Friday may not be very encouraging as predicted by various economists.,But overall sentiments on US mild recovery is positive and improving. So USD is positively biased.
On Technicals, referring to H4, Decisively Breaking the level 1.2245 ( Bottom Ichimoku Cloud Resistance) And level 1.2209 (The Recent Low).,then shall expose the 1.2111 (61.8% Fibo Retr .from 1.1876 to 1.2490)
Strategy A
SELL NEAR 1.2200
First Target:1.2111
Second Target : 1.2050
Strategy B
BUY NEAR 1.2230 on Pull back, (100.00 Fibo Retr on H1 CHART)
First Target: 1.2400
SO you have two strategies given by the time of this posting, the correct strategy used is really depending on the above Price Actions,(PA).
H4 Chart below EURO/USD:-
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