EURUSD Outlook |
Written by ActionForex.com |
Sep 19 13 13:03 GMT
EUR/USD Mid-Day Outlook
Daily Pivots: (S1) 1.3392; (P) 1.3466 (R1) 1.3596; More....
Intraday bias in EUR/USD remains on the upside and current rally should extend to 1.3710 resistance next. Below 1.3385 minor support will turn bias neutral and bring consolidations. But near term outlook will stay mildly bullish as long as 1.3104 support holds.
In the bigger picture, overall price actions from 1.6039 is viewed as a corrective pattern which is still in progress. Below 1.2756 will likely bring deeper decline back to 1.0242 but strong support could be seen there to bring rebound. Above 1.3710 will bring stronger rebound but in that case, we'd be cautious on reversal below 1.4939 resistance. Corrective price action is set to continue in medium term.
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