EUR/USD stayed in sideway sample from 0.9534 final week and outlook is unchanged. Preliminary bias stays impartial this week and deeper decline is predicted with 0.9998 resistance intact. Beneath 0.9630 will convey retest of 0.9534 low first. Agency break there’ll resume bigger down development. 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 sturdy rebound. In the long run image, long run down development from 1.6039 (2008 excessive) is extending. Subsequent goal is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. This may now stay the favored case so long as 1.0635 assist turned resistance holds.
