(1,3490) The EUR/DOLL confirmed on Friday a positive closing but it failed to confirm the break above the resistance of the positive outside day at 1,3550. While above 1,3460 on a daily closing we have to expect further upside potential. the weekly closing was negative. We have still an open gap up in Europe of about 80 pips. The indicators of the daily chart are still well positive as well as those of the weekly one supporting further strength. The indicators of the s/t charts are instead below the line this morning suggesting some consolidation/ correction. While below 1,3510 on an hourly closing we favour a retest of the 1,3460 level with a possible target at 1,3456. A possible break below 1,3460 will confirm a double top formation suggesting a drop toward 1,3350.!! We stay short.
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