Current level at 12:40 CET is 104.89, trading below the daily pivot point level of 105.10 although the daily Bollinger and standard error bands are poised to the upside. For the last 10 days this market has managed to stay above the daily Ichimoku cloud top which is currently marked out at 101.22 and 102.37. The initial upside target is 106.90 which represents the Fibonacci 38.2 percent retracement of the 124.15 - 95.75 range. Pivot point related support levels for today are set at 104.58 and then 104.22. Resistance levels are at 105.46 and then 105.98.
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