Forex Technical Outlook For: EUR/USD (Daily)
Euro
EUR/USD
The EUR/USD did not extend its Bullish momentum Monday slipping below 1.1300.
The bias is Neutral near term.
As you can see on the H1 chart below price is still moving above the H1 200-Day EMA 200 indicating a Bullish short term outlook.
1st resistance is seen around 1.1330. A clear break above that mark could bring on further Bullish pressure testing at the 1.1400 – 1.1435 area.
Tuesday the daily range is seen between 1.1250 – 1.1400.
On the Southside, a clear break back below the H1 200-Day EMA at 1.1250 may bring on more Bearish pressure testing the support at 1.1200 – 1.1150.
My technical outlook is Neutral, standing aside waiting for direction.
Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technical trader
Stay tuned…
HeffX-LTN
Paul Ebeling
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