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EUR/USD Mid-Day Outlook


Every day Pivots: (S1) 0.9600; (P) 0.9675; (R1) 0.9814; Extra… Intraday bias in EUR/USD stays impartial at this level. Consolidation from 0.9534 might lengthen. However upside needs to be restricted by 0.9863 help turned resistance to deliver fall resumption. Break of 0.9534 will resume bigger down pattern, and goal 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) 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 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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