Slobodan Drvenica
Windsor Brokers
EUR/USD
EUR/USD edged higher in Asia / early Europe on Thursday, hinting that pullback from Monday’s spike high (1.1009) might be over.
Signals of formation of a higher base at 1.0900 zone add to positive near-term outlook, as technical studies on daily chart are predominantly bullish, though sustained break above 1.0950/60 zone needed to confirm.
On the other hand, hourly studies are weakening, and recovery attempts may face headwinds on approach to 1.0950 pivot (hourly cloud top / 50% retracement of 1.1009/1.0892 pullback).
This would keep the downside vulnerable, especially on loss of 1.0925 pivot (hourly cloud base / hourly Kijun-sen), which would risk retest of 1.0900 and open way for deeper pullback on break.
Look for clearer direction signal.
Res: 1.0950; 1.0965; 1.0981; 1.1000.
Sup: 1.0925; 1.0890; 1.0875; 1.0850.
Interested in EUR/USD technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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