EUR/USD: Longs Need Stops Below 1.0590
Jason Sen | Jan 23, 2017 12:51AM ET
EUR/USD held first support at 1.0635/25 for a bounce to resistance at 1.0705/15 this morning. Be ready to buy a break above 1.0720 today to target 1.0755/60 then an excellent selling opportunity at 1.0820/30. A high for the recovery is expected here. Try shorts with stops above 1.0870.
Failure to beat resistance at 1.0705/15 targets first support at 1.0660/56 but strong support at 1.0630/20 should hold the downside if we retreat this far. Longs need stops below 1.0590.
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