The Euro had a roller coaster day with both ends tested as the market searched for direction. Initially surging Oil and record highs in the EUR/GBP let the Euro climb above 1.4350 before profit taking and a $4 slump in Oil reversed the markets direction.
Technical outllook:
EURO R1: 1.4180 S1:1.3960
R2: 1.4200 S2:1.3950
chart pattern indicates the currency to have a mixed run for the day. Trading range for the day is expected between 1.3980-1.4170 levels for the day. Stochastic is seen trending down but the currency is trading above the moving average.
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R2: 1.4200 S2:1.3950
chart pattern indicates the currency to have a mixed run for the day. Trading range for the day is expected between 1.3980-1.4170 levels for the day. Stochastic is seen trending down but the currency is trading above the moving average.
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