TECHNICAL DAILY OUTLOOK – EURUSD 17th of April
EYES ON 1.085
NEWS THAT CAN HAVE AN IMPACT:
– EUROZONE PRICE INFLATION (10:00 GMT)
– USA PRICE INFLATION (13:30 GMT)
As I wrote yesterday, “strong break out of the 1.069 level will encourage bulls to cover the 1.0795 gap”.
The accuracy of this view was confirmed and 1.0795 was broken during the late USA session.
The possible scenarios are 2 (affected by the news release):
– strong break out of the 1.085 level will encourage bulls to cover the 1.091 gap
– no more attempts to hit 1.085 (because of disappointing EUROZONE data and non-disappointing USA data) will lead to a correction in 1.069 area back again, between today and tomorrow.
Author: Simone Ambrogio
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