The EURUSD attempted to push higher last week, topped at 1.3211 but whipsawed to the downside and now testing 1.3000 strong support area. The bias is bearish in nearest term especially if price able to make another clear break below 1.3000 – 1.2973 testing 1.2880. Immediate resistance is seen around 1.3100 – 1.3130. A failure to break below 1.3000 – 1.2973 support area and a movement back above 1.3100 – 1.3130 would keep my medium term outlook in a sideways condition, activate my wait and see mode, but as long as stays below 1.3240 I prefer to sell on rallies at this phase as a part of the bearish scenario since the break below the bullish channel as you can see on my h4 chart below.
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