The EUR/USD confirmed yesterday further consolidation interior the positive outside day reversal. We have therefore 1,3545 – 1,3245 still the levels to follow in the coming hours/ session. Only a daily closing above 1,3545 will support further strength suggesting a return for the EUR DOLL toward the 1,37 area.
The indicators of the daily chart are still below the line for now and probably only a daily closing above 1,3545 will turn them up. Those of the s/t ones are mixed this morning supporting some consolidation. The move up failed yet to produce divergences suggesting the move as an overshooting.
An hourly closing below 1,3418 will postpone further strength suggesting a retest of the 200 hours line at 1,3381 if not even a little lower!! Only a move below 1,3285 will resume the decline suggesting a s/t target at 1,2993!!
We remain on the sideline while following the outside day!!
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