EUR/USD outlook: Intraday 1202-28 is key level. Targets below are 1181, 1155, 1136-25, 1100 and 1075. Above targets are 1244, 1277, 1296-1302 and 1357. Today’s sensible range is 1124-1202/28 or 1155-1244/77. If gold stays below 1129, EUR might remain bearish or vice versa. If USD/JPY remains below 120.11, positive momentum might be observed or vice versa. If EUR/GBP is trending down below 7249 and GBP/USD is in bullish mode, EUR/USD might remain under pressure or vice versa. If the market goes out of these ranges stay away from it as that will be an abnormal behavior from intraday trading perspective.
From trend follow-up perspective important closing rates are > or < areas of 1124, 1209, 1242and 1273. Note: To know the strategies and directions to trade, maintain your portfolio at Shivani Financial. The analysis given is not trading signals but the market picture.