Euro rose amid strong economic indicators from Germany. In fact, it led to a good buy signal at 1.2105, which was further supported by the MACD line entering a positive zone. All in all, the euro moved 40 pips up towards 1.2145.

Trading volatility was very low yesterday, so as a result, euro bears were not able to completely take control of the market. To add to that, selling at 1.2057 should have been ignored, mainly due to the fact that the MACD line was in the oversold zone.

A good sell signal emerged for the euro at 1.2131, which was also supported by the MACD line, since at that time, the indicator had just moved into the negative zone. So, as a result, EUR / USD moved down by about 30 pips, however, the pair did not reach the target level.

Both linear regression channels turned down on the 15-minute timeframe. Thus, the downward trend continues in the short term. Consequently, the euro/dollar pair will continue to strive for the 1.2097 level. There are no prerequisites for bringing back the upward trend right now, but this does not mean that traders cannot start buying the euro again right now.

Rumors that the Fed will change its monetary policy in the near future influenced traders to sell the euro and bet on the strengthening of the US dollar. As a result, many short positions were opened in the market yesterday, which resulted in a 60-pip decline in EUR / USD.