Euros stayed within a narrow range yesterday thus leaving the immediate outlook unchanged..The only different thing that happened is that the market made a small double base on the 60 min charts....thus we could trade higher today...Short term resistance is at 108, and if sellers are evident here or you are going short, please do not hold over 10820 and 10860 would then be the short term objective..
Good resistance is here at 10860 and any bounce to these higher levels should encourage sellers back in the market....Hold shorts, add to 10890 and only reverse above 10920...
Cover shorts initially to 10720...Re-sell below 10685 as a break below here should provoke further weakness down to 10615 possibly 10562...
Only above 10920 would short term sellers be in trouble and we could see a rise towards 10960/110 where we would once more be sellers....
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