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EUR/USD Daily Outlook

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Daily Pivots: (S1) 1.1713; (P) 1.1764; (R1) 1.1798;

Intraday bias in EUR/USD remains neutral for the moment. As long as 1.1732 minor support holds, another rise is still mildly in favour. Break of 1.1830 will extend the rebound from 1.1612 to retest 1.2011 high. However, the break of 1.1732 will suggest that correction from 1.2011 is extending with another leg. Intraday bias will be turned back to the downside for 1.1612 and below.

EUR/USD Daily Outlook

In the bigger picture, the rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favoured case as long as 1.1422 resistance turned support holds.

EUR/USD Daily Outlook

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