If EUR/USD Continues Higher, Look For Strong Resistance At 1.0700/05
Jason Sen | Dec 02, 2016 04:10AM ET
EUR/USD has returned to the target of 1.0660/65. If we continue higher today look for strong resistance at 1.0700/05. This is key to direction in to the end of the week. Shorts need stops above 1.0735. A break higher is a buy signal targeting 1.0745/50 then strong resistance at 1.0770/80.
Failure to beat 1.0660/65 again today re-targets 1.0630/25. On further losses look for 1.5090/85 before the week low at 1.055. A break lower targets 1.0543/38 then the 1.0520/15 November low. Further losses likely to test the important 2015 low at 1.0470/60. This is obviously the most important support of the week. A break lower is a sell signal targeting 1.0430/25 then 1.0395/90.
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