Slobodan Drvenica
Windsor Brokers
EURUSD
The Euro remains volatile after big fall on Thursday and trades above fresh low at 1.0587, posted today. Yesterday’s large bearish candle with long upper shadow, formed after strong upside rejection, weighs heavily on near-term price action.
Bearish studies maintain pressure for further downside, with firm break below 1.0600 handle, needed to open way towards recent lows at strong 1.0500 support zone.
Meantime, consolidation should be ideally capped under 1.0700 zone (daily Tenkan-sen at 1.0688 and Fibo 38.2% of yesterday’s fall at 1.0696).
Any break higher would signal extended consolidation ahead of final attempt below critical supports at 1.0500/1.0461. Long-legged weekly Doji candle supports such scenario.
Res: 1.0630; 1.0654; 1.0700; 1.0730
Sup: 1.0587; 1.0551; 1.0504; 1.0461
Interested in EURUSD technicals? Check out the key levels
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