EURUSD

The Euro finally broke below 1.11 support, which held yesterday’s fall and fresh acceleration lower, met initial target at 1.1075, daily Kijun-sen line so far. This opens way towards key support zone at 1.1064/55, 20/200SMA’s, which formed Golden Cross.
Descending daily indicators support further weakness and possible attack at 1.1064/55 breakpoint.
Daily close below 1.1120, Fibonacci 38.2% of 1.0709/1.1374 rally, is needed to signal reversal, with sustained break below 200SMA, to confirm scenario and expose next supports at: 1.1004, 30SMA, ahead of 1.0963, Fibonacci 61.8%, reinforced by 100SMA.
On the upside, daily high and hourly cloud base at 1.1148, is expected to cap extended correction attempts.


Res: 1.1105; 1.1120; 1.1148; 1.1200
Sup: 1.1075; 1.1055; 1.1004; 1.0963

eurusd

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

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