Euro Bouncing off 1.265 Level on Friday

eur-usd-daily-forex-chartEUR/USD closed at 1.2770 the previous week, after bouncing off a crucial 6-month support level (1.265) on Friday with a long uprising candlestick. I was pointing out multiple bearish patterns on Euro’s chart a month ago when the European currency was trading at the trending channel’s top. Since then Euro has gone down 500 pips but it’s now facing great resistance during the latest downtrend. Perhaps some forex traders like me will trust that price level and invest in EUR/USD, while paying close attention to the European crisis and Greek elections in June. The green fade-out in the forex charts proves I’m currently long.