The EUR/USD confirmed a very weak closing on Friday well below the lows of the last few session. The weekly one was also very negative. However, only a clear break below 1,3145 will confirm lower levels suggesting a 1,30 undershooting!!
The indicators of the daily chart are still well negative as well as those of the weekly one supporting further weakness. The indicators of the s/t charts are mixed this morning supporting some further consolidation/correction. Only an hourly closing above 1,3360 will however support a move up toward the 200 hours line, now found at 1,3432, still the possible s/t attraction.
We bought on Friday the EUR/DOLL as suggested and wait for a rally toward the 200 hours line to sell going even short!!
An hourly closing below 1,3275 will support a retest of Friday’s low that we expect to hold for now!!
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FUTURE TREND RESEARCH