EURUSD
The Euro rallied on Friday and got past both 1.3 and 1.31 marks, establishing highs in the 1.3160 area. Supprt was formed at 1.3100 and it is backed by 1.3050 and 1.2980. Resistance is seen at 1.3130 followed by 1.3160 and 1.3180. Daily sentiment is highly bullish while the hourly is moderately bearish due the retracement occuring during today’s Asian session. We are expecting a range trading during the upcoming sessions, not breaking 1.3160 yet. Current exchange rate is 1.3130 @07:00 GMT
Trading strategies:
Short in the 1.3160 area, stop above 1.3190, objectives at and below 1.3100.
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