Outlook in EURUSD remains on the downside as long as resistance 1.2826 holds on a daily closing basis , support comes at the 1.2735 levels , we might see hesitation , but a cut will open 1.2690 next , ahead of the 1.2620 levels , further downside will pave the way towards the psycho level 1.2500 .
On the upside , resistance comes at the 1.2826 levels , a clear break above his level will turn outlook neutral for retesting the 1.2930/1.3000 levels before the next fall..
In all , as long as resistance 1.2862 holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.2690/1.2620 levels , a clear break above the 1.2826 levels will bring some recovery , buy any recovery above the 1.2826 levels should be limited by the 1.2930/1.3000 levels …
Key events which may influence EURUSD today :
US Core Durable Goods Orders (MOM) at 12:30 GMT , we have 5 scenarios :
1- Between -0.7% : 1.7% , will bring sideways move with possible to break lower .
2- Between 1.7% : 2.7% , will bring light bearish move ..
3- Above the 2.7% , will bring strong bearish move…
4- Between -1.7%: -0.7% , will bring small recovery before the next fall ..
5- Below – 1.7% , will challenge resistance before the next fall …
Also keep an eye on US Initial Jobless Claims at the same time :
Below 260 K , the pair will remain bearish , while above the 320 K , the pair will rebound for retesting resistance before the next fall..
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