TECHNICAL WEEKLY/DAILY OUTLOOK.
As we can see from the weekly chart, EUR/USD is hang over 1.066 important support level.
I confirm what I wrote on Friday’s outlook: failure at breaking 1.0722 will not give any chances to bulls for an eventual pullback up to 1.078 and we will see prices pointing down at 1.056.
What was expected to be reached has already been hit. So there is no technical gap to fill, in my opinion.
My outlook is neutral and my guess is that we are about to see a sideways consolidation.
Bullish impulse can get seriously convincing only above 1.0795.
Author: Simone Ambrogio
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