Daily Forecast - 08 July 2015
EURUSD Spot
EURUSD holding below 1.1000 keeps the pressure on for 1.0970/65 then a retest of 1.0915/10. Outlook remains negative so be ready to sell a break below if not already short to target 1.0890/85 then 1.0867/62. If we continue lower look for a test of May lows at 1.0818. Below here risks a slide to 1.0783/80.
Above 1.1000 allows a retest of strong resistance at 1.1035/40. Sell here again, stop 1.1065. Target1 @1.1005 (trail stop to entry), Trgt2 @1.0970 then 1.0925. Be ready to buy a break above 1.1060 h to target 1.1095 for profit taking. Sell at 1.1110/15, stop 1.1145. Target1 @1.1080 (trail stop to entry), Trgt2 @1.1065 then 1.1040.
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