Short Term Trend -Bullish
EUR/USD should break 1.2605 (Oct 10th low) to confirm that the rebound from 1.2501 has ended at 1.2887. Break below 1.2605 will target 1.2500 (Oct 3rd low) and 1.2470 (61.8% projection of 1.36697 and 1.2858 from 1.2994).
Short term resistance is around 1.2752 (61.8% retracement of 1.2840 and 1.2614). On the upper side indicative break of 1.2752 will target 1.2840 (21st high) and 1.2887 (15th high).
Recommendation: Buy EUR/USD around 1.2670, SL 1.2605, Targets 1.2840/1.2887
EUR/USD should break 1.2605 (Oct 10th low) to confirm that the rebound from 1.2501 has ended at 1.2887. Break below 1.2605 will target 1.2500 (Oct 3rd low) and 1.2470 (61.8% projection of 1.36697 and 1.2858 from 1.2994).
Short term resistance is around 1.2752 (61.8% retracement of 1.2840 and 1.2614). On the upper side indicative break of 1.2752 will target 1.2840 (21st high) and 1.2887 (15th high).
Recommendation: Buy EUR/USD around 1.2670, SL 1.2605, Targets 1.2840/1.2887