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Daily Outlook For EUR/USD

Daily Outlook For EUR/USD


EUR/USD 1 Hour Chart

BIAS: While 1.1475-89 caps we should see losses resume

Resistance: 1.1475-89 1.1510 1.1532-40 1.1559

Support: 1.1450-60 1.1435 1.1405-10 1.1390

MAIN ANALYSIS: Friday saw an expanded flat that should find a cap between 1.1475-89. From there we should see losses – initially limited to around 1.1450-60 but later to 1.1405-10. This could trigger a pullback higher. Once that is complete we should see losses continue below 1.1400 and 1.1370. Once that breaks we should see deeper losses.

COUNTER ANALYSIS: If there are any direct break above 1.1490 would surprise. I’d rather be cautious at that point. Above has very few areas of resistance until 1.1582 – 1.1616…

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