EUR Trading Outlook (07-08-2015)

EURUSD

Pivot: 1.0875

Likely scenario: Long positions above 1.0875 with targets @ 1.0945 & 1.0995 in extension.

Alternative scenario: Below 1.0875 look for further downside with 1.0845 & 1.081 as targets.

Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

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