EURUSD hit our selling opportunity at 1.3565/70 & this trade worked perfectly as we topped exactly here & hit first support at 1.3530/20 to bottom exactly here. We are now back up testing 1.3560/70 for a second selling opportunity with stops above 1.3595.
A break higher is not expected but if seen could target resistance at 1.3625/30. Today's outlook is more negative with immediate support at 1.3530/20 again, but below signals further weakness to 1.3495/90. A good chance of a low for the day here but longs need stops below 1.3475 for the next buying opportunity at 1.3460.
Weekly outlook: More chance of a move to the downside this week & perhaps a test of last week's low at 1.3399. Only above 1.3595 is positive this week & can target October highs at 1.3832.
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EUR/USD: Analyst Expects Downside This Week
Published 11/27/2013, 04:37 AM
Updated 05/14/2017, 06:45 AM
EUR/USD: Analyst Expects Downside This Week
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