We see high chances of the pair move up gradually towards (1.31266 – 1.31904). A proper confirmation would occur if the EURUSD will manage to overcome the (1.30811) resistance over today`s trading session.
EURUSD general trend is to the upside. Break below (1.28649) may trigger further fall of the EURUSD. Going above nearest support level at (1.30577), however, would confirm continuation of the bullish trend, towards next objective upwards (1.31889).
We prefer a downside scenario at this phase. Since bias is bearish in nearest term targeting (1.27287). Another move back above (1.28778) could lead us to neutral zone.
We expect a bearish overall direction for today. as far as (1.28882) remains intact; targeting (1.25725) then (1.24724). A close above (1.28882) resistance area will extend gains to (1.29782).
We hold a view of the instrument moving in the range of (1.30828 – 1.28877). We have to wait and watch the movement of the instrument from current levels.
We prefer a downside scenario at this phase. Since bias is bearish in nearest term targeting (1.27060). Another move back above (1.30902) could lead us to neutral zone.
We believe that possible bearishness could be seen during this trading session. Immediate resistance is at (1.30919). Close above that area could lead us to neutral zone as direction would become unclear, but as long as price moves below that level the major scenario remains bearish.
We see high chances of the pair move down gradually towards (1.29591 – 1.29013). A proper confirmation would occur if the EURUSD will manage to close below the (1.30038) support over today`s trading session.
The outlook has grown increasingly bearish since EURUSD had remained below its latest swing high at (1.32074). If this resistance level is broken to the upside, the outlook will deteriorate.
It's likely that EURUSD will decline. A break above (1.31416) could be a threat to the bearish scenario targeting (1.33466) even (1.34226). On the downside, immediate support is at (1.30056). Break below that area should keep the major bearish scenario intact testing (1.28666) area
