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EUR/USD Outlook Negative, Immediate Support 1.35/20

Published 11/26/2013, 05:41 AM
Updated 05/14/2017, 06:45 AM

EURUSD fell just short of our selling opportunity at 1.3565/70 & topped at 1.3560. If we revisit 1.3560/70 today we can exit longs & try shorts with stops above 1.3595 for the next selling opportunity at 1.3625/30.

Today's outlook is more negative with immediate support at 1.3530/20 but below here signals further weakness to 1.3495/90. A good chance of a low for the day here but longs need stops below 1.3475 for the next buying opportunity at 1.3460.
EUR/USD
Weekly outlook: More chance of a move to the downside this week & perhaps a test of last week's low at 1.3399. Only above 1.3595 is positive this week & can target October highs at 1.3832.

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