EUR/USD

The Euro is consolidating after strong acceleration in past two days (the pair was up 1.92%) but keeps firm tone.

Bulls hit new multi-month high on Friday and eye next target at 1.0578 (Fibo 38.2% of larger1.2266/0.9535 downtrend), break of which to confirm reversal pattern on monthly chart and open way for stronger recovery.

Strong bullish momentum on daily and weekly chart  and double golden-cross (5/200 and 10/200 DMA) support the action, although headwinds could be expected as studies are overbought on both timeframes.

Look for better levels to -re-enter  bullish market, while dips hold above rising 10DMA (1.0387).

Res: 1.0578; 1.0620; 1.0700; 1.0786.
Sup: 1.0480; 1.0426; 1.0387; 1.0366.

EURUSD

Interested in EUR/USD technicals? Check out the key levels

    1. R3 1.0715
    2. R2 1.0624
    3. R1 1.0574
  1. PP 1.0484
    1. S1 1.0434
    2. S2 1.0343
    3. S3 1.0293

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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