fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: EUR/USD Daily Outlook  Fri Aug 30, 2013 11:09 am | |
|  EUR/USD Daily Outlook Daily Pivots: (S1) 1.3192; (P) 1.3267 (R1) 1.3315; More.... EUR/USD is still staying above 1.3205 minor and intraday bias remains neutral first. Break of 1.3205 will suggest that rise from 1.2755 has completed and will bring deeper fall to retest this support. But before that, another rise is mildly in favor and above 1.3451 will target a test on 1.3710 resistance. In the bigger picture, overall price actions from 1.6039 is viewed as a corrective pattern which is still in progress. Current development suggests that price actions from 1.3710 were corrective in nature. And, the whole rally from 1.2042 is still in progress. Break of 1.3710 will target 100% projection of 1.2042 to 1.3710 from 1.2755 at 1.4423. In that case, though, we'd be cautious on reversal below 1.4939 resistance. Meanwhile, sustained break of 1.2755 will dampen this view and turn focus back to 1.2042 low instead. | |
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