EUR/USD Weekly Outlook

EUR/USD’s strong rally last week suggests that corrective fall from 1.2091 has completed at 1.1553 already, ahead of 38.2% retracement of 1.0569 to 1.2091 at 1.1510. With a temporary top formed at 1.1860, initial bias is neutral this week first. Downside of retreat should be contained above 1.1677 minor support to bring another rally. Break of 1.1860 will turn bias to the upside for retesting 1.2091 high. However, break of 1.1677 will turn focus back to 1.1553 low instead.

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Posted in Forex Market.

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