The EUR/USD confirmed a direct extension of the decline toward the 1,3430 area with a possible direct extension toward the support area at 1,3360. The closing was of course weak confirming the negative day reversal; a daily closing tonight below 1,3480 will support a retest of the previous low at 1,3146!!!!
The indicators of the daily chart are now well negative as well as those of the s/t ones supporting further weakness. Those of the s/t charts are also negative with bullish divergences supporting a negative tone. We have to expect further weakness but in the s/t we favour a rebound. Today’s session started with a gap down of about 40 pips and we expect this gap to be closed before extending further the decline.
We stay on the sideline waiting for a decent rebound to sell.
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FUTURE TREND RESEARCH