The EUR/USD confirmed yesterday a 1,38 overshooting finding resistance already at 1,3830 well below the 200 hours line at 1,3923 that we expected to test. However, while above 1,3609 we could still see another attempt on the upside for an extension of the correction!!
The indicators of the daily chart are still positive but now very close to the line and a weak closing could already turn them negative. The indicators of the s/t charts are instead already below the line suggesting further weakness. In the hourly chart we have already a negative reversal suggesting a possible target at 1.3398!!
The EUR/DOLL already broke below a s/t support line , now resistance at 1,3720. A break below 1,3609 confirmed by an hourly closing will support a firm drop toward the s/t target!!
We remain on the sideline.
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