The EUR/USD prices are in a range trading within an ascending channel at the 1.2560 level which represents the Fibonacci 23.6%, however we expect it will retreat after the next two days of gains on short covering as investors attention is turned to Italy's bond auction.
Should the prices breach down the 1.2530 level, it will decrease towards the 1.2485 level then to the 1.2450 level.
However, by the announcement of positive news on the Euro, it should rise and the next target will be towards the 1.2785 level.
We draw the attention of our dear clients to monitor the economic news of today and to follow us on Twitter and Facebook to provide you with the latest news and its consequences on the EUR/USD, we will also update you with major Gold, Oil and Silver fundamental news.
Nice trading all
Thanks (Source http://www.mbcfx.com/news/news_en14_06.html)