Technical Outlook and Chart Setups:
As depicted above, the single currency pair has raised to 98.00 level as expected on Friday. We are into the 4th wave of the downtrend, which still has a room for further extending to 98.50 and 99.00 levels in the upcoming sessions. We recommend holding on to long positions taken earlier for now. 95.00 level demonstrates strong support now while resistance starts from above 98.00 level. Any intraday dips should be considered as short term buying opportunities from here on.
Trading Recommendations:
Hold on to buy positions taken earlier, stop below 95.00, target 98.50 and above 99.00.
Good Luck!
