Pair is facing an anticipated uptrend as price broke out of a Weekly wedge bullishly and is now rejecting any further bearish movement. This is due to a gradual uptrend spotted on the H4 chart and price is currently bouncing of the trendline, not to mention the indecision traders are facing on either direction of the pair with a number of dojis currently present (H4). If price breaks the Trendline, supposedly below 124 and both MA's it would confirm a bearish move as far as the technical side of it is concerned.
Fundamentally, the issue of the ECB "Bad loans" uncertainty is also a factor to consider as the ECB has mentioned it might consider pulling the plug on the loans it had lended the companies that look to be on their last straw. Loans of approximately 1.4 trillion euros, which will most likely weigh in on the currency financial markets. As of now this is just but speculation.
Fundamentally, the issue of the ECB "Bad loans" uncertainty is also a factor to consider as the ECB has mentioned it might consider pulling the plug on the loans it had lended the companies that look to be on their last straw. Loans of approximately 1.4 trillion euros, which will most likely weigh in on the currency financial markets. As of now this is just but speculation.