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EUR/USD Mid-Day Outlook


Day by day Pivots: (S1) 0.9759; (P) 0.9805; (R1) 0.9891; Extra… Intraday bias in EUR/USD stays impartial and outlook is unchanged. Deeper decline is predicted with 0.9998 resistance intact. Under 0.9630 will convey retest of 0.9534 low first. Agency break there’ll resume bigger down pattern. Nevertheless, break of 0.9998 will affirm brief time period bottoming and switch bias again the upside for stronger rebound. Within the greater image, down pattern 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 sturdy rebound.

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