EURUSD
The Euro resumed the decline and tested bids in the 1.1950 area during the late NY session on yesterday.
The overnight recovery established a bullish momentum on the hourly charts, though we expect the retracement to end around the 1.2 key figure. While 1.2 holds, new tests in the mid 1.19′s are expected to occur. Support is now seen at 1.1950 and 1.1900. Resistance follows 1.2000 at 1.2045. Current exchange rate is 1.1976
Trading strategies:
Short in the 1.2000 area, stops above 1.2030, objectives at and below 1.1950.
Other Articles You Might Enjoy:
