EURUSD Technical Outlook
It shows that EURUSD is in a bullish recovery movement from the support area 1.0550. The target of our last week forecast was 1.1150 and the market move around 200 pips toward our forecasted direction. Now the more bullish movement is expected with the same target 1.1150 as this a short-term resistance zone and market can retest the zone. As our main bias is still bearish so it is expected that the market can be bearish after testing 1.1150 areas. Before that, we need to observe the market flow and the price reaction if the price reaches the level.
EURUSD Fundamental Outlook
The EURO rose Last week. US Job data on Friday was dovish and the European Central Bank’s stimulus program help to rise EURO. Subsequently, EUR/USD bullish could be expected.
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