Wednesday, May 6, 2015

eur/usd market uptrend

The EURUSD attempted to push lower yesterday bottomed at 1.1065 point but whipsawed to the upside topped at 1.1222 point. The bias is buy in nearest term testing 1.1288 point. Immediate support is seen around 1.1150 point. A clear break below that area could lead price to neutral zone in nearest term testing 1.1100 point or lower but overall I still prefer a buy scenario at this phase and any downside pullback should be seen as a good opportunity to buy and only a clear break below 1.1040 point could be a serious threat to the buy outlook.

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