novvoll12

EURUSD neutral – Pullback retraces over 38.2% of the upswing

FX:EURUSD   Euro / U.S. Dollar
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EURUSD             1.1337 – neutral – Pullback retraces over 38.2% of the upswing

EURUSD             pulled back from the 1.1494 peak (October 15, 2015) to retrace over 38.2% of the 1.1104/1.1494 rise. There is scope to test the 1.1295 support area (near 50% of the 1.1104/1.1494 rise) which may hold the dips. Back above 1.1395 would signal return of strength and firm for 1.1494. However, a break below the 1.1295 area would prolong the consolidation towards 1.1238 (October 8, 2015 low) near 61.8% of the 1.1104/1.1494 rise.
Outlook:
Intraday: neutral
Daily: bullish
Weekly: neutral
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