EURUSD
Not much happened on yesterday after the pair declined from the 1.27 area. Support is now formed by yesterday’s lower area, at 1.2610 backed by 1.2585 which is a key medium term barrier. Resistance is formed by the 1.2655 which is being tested now and 1.2705 higher. The resistance at 1.2655 is also the 50 fib retracement of the 1.2705-1.2605 move seen during the last 2 days. Hourly momentum is bullish while the daily is still in a neutral area. We are looking forward for a potential test of 1.2700 later today in case 1.2655 won’t hold. Current exchange rate is 1.2655
Trading strategies:
Long in the 1.2625 area, stop/reverse below 1.2600, objective at and above 1.2680. Extended objectives may aim above 1.2700
Is not much we can do but at least it is something!
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