Technical outlook:
EURUSD is preparing for a final push towards 1.1900 levels before reversing lower. The single currency pair is seen to be trading around 1.1805 levels at this point in writing and is expected to find support here. Please note that immediate resistance is seen around 1.1965 mark, while support is at 1.1754 respectively. The recent boundary which is being worked upon is between 1.1965 and 1.1754 and EURO might be preparing to push towards 1.1900. The fibonacci 0.618 retracement is passing close to 1.1900 and hence a bearish reaction is expected if prices manage to reach there. A break below 1.1700 will accelerate drop towards the next potential support around 1.1200 levels, going forward.
Trading plan:
Remain short, stop @ 1.1990 target below 1.1200
Good luck!
