EUR Trading Outlook (15-07-2015)
Medium Term Strategy: Forex Pair of the day
EUR/USD – pulling back
The pair is drawing a pullback above the strong 1.0810 horizontal support as the daily RSI lacks downward momentum. Then, as long as 1.0810 holds as a support, further advance is likely with 1.15 as a first target (previous top) and 1.1730 in extension (horizontal resistance). A third target is set at 1.19 (June 2010 low). Only a break below 1.081 would turn the outlook to bearish with a first alternative target set at 1.0450 (March low) and 1.02 (horizontal support and overlap).
