| EUR/USD intraday: bullish bias above 1.2875 |
Pivot: 1.2875.
Our Preference: LONG positions above 1.2875 with targets @ 1.2965 & 1.2985. Alternative scenario: The downside breakout of 1.2875 will open the way to 1.284 & 1.28. Comment: the RSI is supported by a bullish trend line. |
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More euro resistance. Further stern resistance by euro bulls was another feature of forex markets yesterday, with some decent buying interest emerging from the Middle East down around the 1.2880 level. In addition, the various PMI services reading out of Europe suggested that this sector of the economy did not worsen last month. As a result, the single currency has popped back up to near 1.2930. The bulls will want to get the euro up through 1.2970 to reassert their authority – this level has been difficult to breach over recent days.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id
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