By the beginning of today's trading our pair has managed to test a strong 1.24 level and move away from it by more than 25 points.
At the moment the pair has found resistance at this level and formed a reversal pattern on the hourly chart. It is capable of sending the price to the mark of 1.2315.
Today there is a lot of data on both the US and the Eurozone. Therefore, given increased volatility in these moments, we can expect similar options for the price. Also today we’ll have a meeting of the Eurogroup and the ECB member Constâncio. So we can count on acceleration of the market and getting a quick profit because of that.