Is the EUR/USD still going down or will it recover from the down fall the last week?

The EUR/USD is testing the 1.36 level and according most of the analyst it depends of how much pips the pair will avance during the first hour of this new week, if the price goes under 1.355 it would be a confirmation that the long term trend is changing it direction and the price probably find a support at 1.348. On the other side if the price goes over 1.365 we will be in presence of a cofirmation of the continuation of the current trend where the price probably go to 1.375 until it find a strong resistance level.

We are in front of two different and strong scenarios based in technical analysis but we can keep in mind a couple of facts that are the current strenght of the United States economy and the weaker conditions of the Euro Zone, that is an important aspect to count with before taking a trading desition.

Also the other most important pairs as the AUD/USD, NZD/USD, USD/CAD can be affected by these USD conditions, with the USD/JPY following the last mentioned pairs.