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EUR/USD Mid-Day Outlook


Every day Pivots: (S1) 0.9551; (P) 0.9610; (R1) 0.9652; Extra… Intraday bias in EUR/USD stays mildly on the draw back regardless of lack of draw back momentum. Present down development ought to goal 161.8% projection of 1.0368 to 0.9863 from 1.0197 at 0.9380 subsequent. On the upside, above 0.9700 minor resistance will flip intraday bias impartial once more first, and produce consolidations once more, earlier than staging one other decline. Within the greater image, down development 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 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 robust rebound.

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