The Euro staged a recovery off lows in the Asian session but once again found selling pressure during the US session as US data beat estimates and oil receded from highs. Looking ahead for Industrial Production with a forecast at 0.1%.·
EURO R1: 1.4960 S1:1.4835
R2: 1.4982 S2:1.4810
chart pattern signals a downtrend for the day with the trading range between 1.4840-1.4950.stochastic though in oversold territory is trending down. currency is also trading below the moving averages.
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