EUR/USD Mid-Day Outlook

Intraday bias in EUR/USD remains neutral at this point. Overall, near term outlook remains bullish with 1.1712 cluster support (61.8% retracement of 1.1553 to 1.1960 at 1.1708) intact. Further rally is expected and above 1.1862 will target 1.1900 first. Break will target 1.2029 high next. However, decisive break there will indicate that rebound from 1.1553 has completed at 1.1960. In that case, deeper fall would be seen to 1.1553 and possibly below to extend the decline from 1.2091.

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Posted in Forex Market.

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