The EURUSD was indecisive yesterday. There are no changes in my technical outlook where the overall bias remains to the downside but price has been moving sideways between 1.3420 – 1.3613 since November 11 indicates consolidation phase. I still prefer a bearish scenario and expect a clear break and daily close below 1.3420 to continue the bearish scenario testing 1.3350 and 1.3145. Immediate resistance is seen around 1.3500. A clear break above that area could trigger further upside pullback but as long as stays below 1.3590 – 1.3613 I still prefer to short on rallies.
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