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The Euro rebounded again in the 200 EMA, and seems to me that, although bullish pressure is still there in the short term, the movement is loosing steam: the last couple of days the pair move in a 200 pips range, and any break of the extremes will probably mean a good number of pips each side. From actual price, consider a first resistance @ 1.3275, followed by the mentioned EMA and today’s high at 1.3115; a 4 hours candle openning above it, could send the pair to the zone @ 1.3370 where we have the roof of the inverted triangle, probable maximum for today. Regarding supports, under 1.3225 we have 1.3200 zone, followed by 1.3145 and 1.3115. Under this last, the pair could confirm a small double roof formation, of @ 200 pips, and from there trigger some bearish momentum, first to 1.3061 and more likely close to 1.3020/30.
