The EUR/USD confirmed yesterday further consolidation interior the negative outside day with 1,3560 – 1,3350 still the levels to follow in the coming hours. A daily closing below 1,3350 will be very negative suggesting a possible drop toward October’s low at 1,3146!!
The indicators of the daily chart are still below the line and this morning also those of the s/t ones are negative. The drop favoured a test of the 200 hours line at 1,3378 with even an undershooting where it is finding some support, at least for now. In the hourly chart we have already a potential positive reversal situation that could favour a resumption of the move up. An hourly closing above 1,3410 is however need to turn positive the indicators of the hourly chart.
We wait for further confirmation but overall we still expect higher levels for the EUR/DOLL before lower ones.
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FUTURE TREND RESEARCH