The EURUSD had a bullish momentum last week after the failure to make a clear break below 1.3000 two weeks ago, topped at 1.3484 and closed at 1.3446. The bias remains bullish in nearest term testing 1.3530. Price is now struggling around the 200-daily-EMA located around 1.3460. A clear break and daily close above the 200-daily-EMA could trigger further bullish scenario testing 1.3600 – 1.3650 area. Immediate support is seen around 1.3400. A clear break below that area could lead price to neutral zone in nearest term but any downside pullback now is normal and as long as stays above 1.3320 I still prefer a bullish intraday scenario at this phase with buy on dips strategy.
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