EUR/USD - 1.2887 Daily Market Outlook - Aug 18

By IBTimes Staff Reporter | August 18 2010 4:31 AM

The single currency rebounded strongly after finding renewed buying at 1.2824, suggesting pullback from yesterday's high of 1.2917 has possibly ended there and a breach of said res would confirm upmove from 1.2734 has once again resumed and bring further gain to 1.2933/37, however, strong gain above there is unlikely and reckon 1.2981 would remain intact. On the downside, below 1.2824 would bring stronger retracement of aforesaid upmove to 1.2805 and possibly 1.2777.

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