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EUR/USD Mid-Day Outlook


Each day Pivots: (S1) 0.9694; (P) 0.9755; (R1) 0.9874; Extra… Intraday bias in EUR/USD stays impartial at this level, and outlook stays bearish with 0.9863 help turned resistance intact. Break of 0.9634 will counsel that bigger down development is able to resume. Intraday bias will likely be again on the draw back for 0.9534 and beneath. Nonetheless, sustained break of 0.9863 will affirm quick time period bottoming, and convey stronger rally again to 1.0197 resistance as an alternative. Within the greater 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 1.0197 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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