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EUR/USD Mid-Day Outlook


Each day Pivots: (S1) 0.9538; (P) 0.9624; (R1) 0.9694; Extra… Intraday bias in EUR/USD is turned impartial with a brief low shaped at 0.9551. Some consolidations could possibly be seen, however upside must be restricted by 0.9863 assist turned resistance. Break of 0.9551 will resume bigger down pattern to 161.8% projection of 1.0368 to 0.9863 from 1.0197 at 0.9380 subsequent. Within the larger 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 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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