Commentary: We wrote yesterday that “the EURUSD is likely to drift lower near term into a support zone from 1.4762 to 1.4818. Still, the EURUSD is very bullish as long as price is above 1.4639. As we have mentioned recently, objectives are in the 1.5200/1.5300 area.” The pair has come right into this zone and has bounced. Again, the bias is bullish as long as price is above 1.4639 and our target is above 1.5200.
Strategy: Bullish, against 1.4639, target TBD
Al Bawaba
