Recovery for the Euro ahead?

By Julian Yosovitch

October 7, 2014 • Reprints

http://www.futuresmag.com/2014/10/07/recovery-for-the-euro-ahead#.VDQbwu-hBI0.twitter

Strong recovery for the Euro, which was trading at $1,265 on Monday.

We can see that the currency has recognized support at the 76.4%Fibonacci level of the entire rally back to highs at $1.40.

We believe that we will see further recovery around $1.28 and even highs of $1.295-$1.30, with the maximum of $1.31 as a key medium-term hurdle and where the bears should reac--drilling the euro back to $1.25 dollars.

Only at a break below $1.25 will we see further losses pointing back to the lows of $ 1.20 and even more depressed values in coming weeks. Lets take a look at the chart.