Technical Analysis

Goldman Sachs EUR/USD chart – “in an more and more slender vary”

This from a weekend GS technical evaluation observe, on the euro

This from a weekend GS technical analysis note, on the euro

EURUSD examined/held robust help at 1.1234  

The restoration since then has nevertheless been fairly poor. Within the broader scheme of issues, it is proper on the backside of a variety that is held since August final yr ~1.12. Vary highs are actually at 1.15-1.16. It is troublesome to chase the market decrease from right here provided that none of what has transpired since January has appeared impulsive. That being mentioned, the latest rally has been equally troublesome and overlapping.  The following notable resistance is 1.1376; an ABC from the February low. Getting via there may counsel some momentum within the near-term permitting for continuation in direction of 1.1438 at the least. Failure to interrupt 1.1376 does nevertheless indicate that the restoration is as soon as once more corrective/counter-trend.  View: Want above 1.1376 to develop momentum. Opens at the least 1.1438, with scope to succeed in ~1.15. Longer-term bearish under 1.1234.
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