We see better value in short positions.
If the price will go below the first support at (1.1162), this would confirm continuation of the bearish trend, towards next objective downwards (1.1135) then (1.1093) and (1.1066) will follow.
We believe that possible bearishness could be seen during this trading session.
Immediate resistance is at (1.1460). Close above that area could lead us to neutral zone as direction would become unclear, but as long as price moves below that level the major scenario remains bearish.
Overall the direction remains unclear. EURUSD might close below (1.1269). If seen this will call for more declines to the (1.1259) level. Further down, support is located at (1.1229). Alternatively, above the (1.1460) level it will to be traded to resume its medium term uptrend towards its important resistance at (1.1509).Read More