Intraday bias in EUR/USD is neutral for the moment as recovery from 1.3054 continues. We'd still slightly favor another fall with 1.3357 minor resistance intact. Below 1.3054 will target a retest on 1.2969 and break there will confirm resumption of whole decline from 1.4281 and target 1.2643 support next. On the upside, break of 1.3358 will indicate that fall from 1.3496 is possibly over and rebound from 1.2969 might be resuming for another high above 1.3496.
In the bigger picture, current development suggests that fall from 1.4281 is still in progress. Also it revives the case that correction from 1.6039 is still in progress for another low below 1.1875. Break of 1.2969 will solidify this bearish case and further break of 1.2643 will confirm and target 1.1875 support first. on the upside, though, break of 1.3496 resistance will mix up the outlook again.
No comments:
Post a Comment