EURUSD has been under pressure despite recent push upwards but failed to break out of strong resistance at 1.3100 – 1.30600 zone and remain under pressure. With current price action and technical outlook EURUSD next target zone will be around 1.276 – 1.267 zone. Break out of 1.275 – 1.267 zone at lower end will confirm Bearish move in EURUSD leading to test of 1.200 levels. For traders current outlook provide nice opportunity to Short EURUSD with first target of 1.275 level and break of 1.265 level can provide further confirmation for additional Short positions.
-Sardar Uddin
TradeCuts
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