EUR/USD Daily Outlook

Intraday bias in EUR/USD is neutral for the moment. Above 1.1818 will turn bias to the upside for 1.1879. Break there will revive the case that pull back from 1.2091 has completed at 1.1669, ahead of 1.1661 support. In that case, rebound from 1.1669 should resume for retesting 1.2091 high. On the downside, below 1.1729 will bring retest of 1.1669. Break there will resume whole corrective fall from 1.2091. In that case, EUR/USD will target 38.2% retracement of 1.0569 to 1.2091 at 1.1510. Strong support is expected there to complete the correction.

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Posted in Forex Market.

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