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EUR/USD Every day Outlook


Every day Pivots: (S1) 0.9669; (P) 0.9702; (R1) 0.9735; Extra… EUR/USD continues to lose draw back momentum, however additional fall is in favor with 0.9816 resistance intact. Deeper decline could be seen to retest 0.9534 low. Agency break there’ll resume bigger down pattern for 100% projection of 1.0368 to 0.9534 from 0.9998 at 0.9163. On the upside, above 0.9816 will flip bias again to the upside for 0.9998 resistance as a substitute. Within the greater image, down pattern from 1.6039 (2008 excessive) remains to be in progress. Subsequent goal is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 0.9998 resistance is required to be the primary signal of medium time period bottoming. In any other case, outlook will keep bearish even with robust rebound.

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