The EUR/USD confirmed a correction but much deeper as we expected after the strong move up on Friday. It formed a negative day reversal reversing therefore the strong performance of last week and re-launching therefore the move down. Only a break below 1,3480 will however confirm lower levels!!
The indicators of the daily chart are again turning below the line and also those of the s/t ones are negative this morning supporting lower levels. We expect some support at 1,3550 before 1,3480 while on the upside only an hourly closing above 1,3645 will postpone the decline favouring another test on the upside with the 200 hours line at 1,3714 the possible attraction!!
We stay on the sideline waiting for a trading opportunity.
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FUTURE TREND RESEARCH