Black Pipper

Forex Dreamers

EUR/USD: More weakness expected at 1.0814

The EUR/USD remains in the loss and he shows no signs that point to a recovery. The extremely oversold conditions and heightened risk appetite could lead the pair to test the 10-day SMA in the 1.09 area, which could prove an opportunity. With this in mind, the next goal will be the fibo retracement of the 2017-2018 rally of 1.0814.

Technical Levels

S1 1.0825
S2 1.0816
S3 1.0803

R1 1.0847
R2 1.0860
R3 1.0869

 

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