EUR/USD Daily Outlook – ActionForex

Daily Pivots: (S1) 1.1650; (P) 1.1687; (R1) 1.1713; More….

Intraday bias in EUR/USD stays neutral for the moment. On the upside, sustained trading above 61.8% retracement of 1.2081 to 1.1408 at 1.1824 will pave the way to retest 1.2081 high. However, firm break of 1.1642 support will indicate the the rebound from 1.1408 has completed, and bring deeper decline back towards this low instead.

In the bigger picture, the strong support from 38.2% retracement of 1.0176 to 1.2081 at 1.1353 suggests that the pullback from 1.2081 is more likely a corrective move. Strong support was also found in 55 W EMA (now at 1.1530). Focus is back on 1.2 key cluster resistance level. Decisive break there will carry long term bullish implications. Nevertheless, break of 1.1408 support will revive the case of medium term bearish trend reversal.

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Major, Minor, & Exotic Pairs

Major pairs always include the US dollar on one side. They’re the most liquid, carry the tightest spreads, and get the most coverage from analysts and news outlets. If you’re just getting started, this is where you want to be. EUR/USD (Euro / US Dollar) EUR/USD is the most traded pair in the world. It

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