Technical Outlook and Chart Setups:
Yesterday the single currency pair pulled back sharply. This could still possibly be a test of the recent lows. It is recommended to stay flat for now. If long positions have been taken yesterday, it can be held for now. Please avoid taking fresh long positions for a while. Intermediary support remains around 100.20 level, while resistance starts from 101.75. We still favor at least a decent pullback towards 102.50 level before any major move. Look higher in the short term.
Trading Recommendations:
Hold on to long positions for now. Stop at 100.00. Target Open.
Good Luck!
