The completion of the double top pattern failed to trigger sharp correction and consolidated between prior week top and bottom instead. This development actually strengthen its medium-term bullish outlook although a lower correction toward 61.8% retracement level is still normal in my opinion. Or in other words I believe that the Euro should find support above 1.2870 against the Dollar if the bull lose current ground above 38.2% retracement level at 1.3142. I am hoping that the pair will eventually reach 61.8% projection at 1.3369.
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| EURUSD HOURLY CHART (PREVIOUS OUTLOOK). |
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| EURUSD HOURLY CHART (CURRENT OUTLOOK). |
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| EURUSD DAILY CHART - Medium-term outlook unchanged. |
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