EURUSD daily report, by Liviu Flesar
The dollar recovered slightly Vs the Euro as the pair tested bids around the 1.2745 level during the Asian session. Current support is formed by 1.2745 backed by 1.2725 and 1.2700. Lower, support is also seen at 1.2665. Resistance is formed by 1.2780, 1.2800 and 1.2830. Higher, important resistance is formed by 1.2865. If the 1.2745 and 1.2725 support levels hold, we expect a resume of the upward trend and a new test of 1.2800 as the 1.2780 is a weaker resistance now compared to how it was until 3 days ago. The daily momentum remains bullish though lost some strength while the hourly is bearish. Current exchange rate is 1.2756
Trading strategies:
Long in the 1.2745 area, stop/reverse below 1.2720, objectives at and above 1.2790. Extended objectives may aim at 1.2830.
Is not much we can do but at least it is something!
Please click the banner below & sign the petition – show you care!
