Euro is still trapped in tight ranges around 1.2700 market and its more than obvious that corrective rally since start of June is incomplete. Notice that in the recent sell-off market did not break through the lower support line of a corrective channel, which means that price did not confirm a downtrend continuation! So for now we need to stay with current sentiment, tracking a double zig-zag headed to 1.2780 resistance area, before market turns bearish.
Bottom line: recovery is corrective and  weakness will come!