Technical Outlook and Trade Setup:
Yesterday’s the European session fall has hit our first measured extension at 94.10 as seen above. Believe it or not, the fall doesn’t look convincing on the smaller timeframes. 4 Hour Charts are hinting divergence, hence the probability of an extended pullback cannot be ruled out. It is recommended to look out for short term buying opportunities towards at least 96.00 level. Intermediary low/support comes just below 94.00 level now while resistance is above 97.00.
Trading Recommendations:
Flat for now. Looking for short term buying opportunity.
Good Luck!
