Not much change from yesterday’s perspective, Euro/Dollar remains under bearish pressure: if we look the daily charts, we could see the pair is inside a triangle, formed at the end of a descendant trend: already try to break under yesterday, yet failed; triangles are supposed to be continuation figures, so a clear daily open under it, could mean more bearish pressure for the pair. further long term confirmation will come under the 1.2710, minimum’s zone that rejected the bearish bias quite strongly a couple of times. Could G7 meeting change perspective? probably: a move above the 1.3050/1.3100 zone will completely change the pair perspective in the medium term. For today, supports will be at 1.2845, followed by 1.2804, 1.2752 and finally the 1.2700/10 zone. Regarding resistances, above 1.2896 we have 1.2942, today’s high, followed by the zone around 1.3000, where we also have the descendant trend line we have been following, and above it consider 1.3030/50 zone.
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