The Euro extends recovery into fifth straight day, with bullish signal generated on Wednesday's close above 1.0838 Fibo barrier (23.6% of 1.1494/1.0635).
Fresh advance cracks the base of thick daily cloud (spanned between 1.0930 and 1.1008) reinforced by daily Tenkan-sen.
Penetration into daily cloud would expose next pivotal Fibo barrier at 1.0963 (38.2% retracement), break of which would generate initial reversal signal which will require confirmation on close above 1.1000/08 (psychological/cloud top).
Another strong resistance zone lays above here, provided by a cluster of sideways-moving daily MA's (100/20/200) and bulls will face a tough work to resume.
Flat daily momentum warns but expectations for surge in US jobless claims would deflate dollar along with stimulus package and help Euro's recovery.

Res: 1.0963; 1.1008; 1.1042; 1.1065
Sup: 1.0888; 1.0869; 1.0838; 1.0804



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

    1. R3 1.1064
    2. R2 1.0979
    3. R1 1.0931
  1. PP 1.0846
    1. S1 1.0797
    2. S2 1.0712
    3. S3 1.0664


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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