The EUR bounced up after hitting a low of 1.314 and closed the week at 1.3313. The technical outlook seems to be recovering but fundamentals may further delay the upward recovery of the EUR/USD.
From the Weekly chart, there's still a possibility of the EUR testing 1.2990 before turning up. Personally, I feel that this is likely to happen given the problems the EU are having now.
On the Daily chart, the EUR is still in a down trend.
In the coming week, EUR could test 1.3200 before going up again.
Good to look for shorts if EUR goes up to 1.3450 regions. Any open shorts should tighten stop loss in case the EUR shoots up to 1.3450 regions before continuing its journey down to 1.3200 or even 1.2990.
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