Birmingham , UK

EUR/USD Mid-Day Outlook


Every day Pivots: (S1) 0.9660; (P) 0.9718; (R1) 0.9762; Extra… Regardless of lack of draw back momentum, additional decline continues to be in favor in EUR/USD for retesting 0.9534 low. Agency break there’ll resume bigger down development for 100% projection of 1.0368 to 0.9534 from 0.9998 at 0.9163. For now, danger will keep on the draw back so long as 0.9998 resistance holds, in case of restoration. Within the larger image, down development from 1.6039 (2008 excessive) continues 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.

Leave a comment