EURUSD: Corrective Pullback Risk Remains Intact!

EURO -dollar - 69875

EURUSD: Corrective Pullback Risk Remains Intact!

As long as 12029 resistance holds on a daily closing basis, the EURUSD remains in a corrective pullback mode and further down could be seen in EURUSD. support comes at the 1.1822 levels where a cut would open 1.1773 levels, further down, support comes at the 1.1730/1.1670 levels. Support stands at the 1.1822 levels where a cut would open 1.1773 levels, further down, support comes at the 1.1730/1.1670 levels.

Note that medium term trend remains upwards above 1.1867 levels(weekly basis)…

On the upside, resistance comes at the 1.1925 levels ahead of 1.1994 levels followed by 1.2029 levels, above this level will restore the upside momentum and will challenge the 1.2058/1.2069 levels.

Conclusion: The EURUSD continues to face pull back threats below the 1.2029 levels…

Note that U.S Retail Sales data may bring a selling opprtunity. Friday Sept 15 2017 at 12:30 GMT.

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