Technical outlook and chart setups:
The EUR/USD pair looks to be in the middle of two trade possibilities. I) The pair is seen to be trading at 1.0475 levels for now, which is also fibonacci 0.618 support of the rally between 1.0375 and 1.0650 levels. A bullish bounce here could push prices higher above 1.0650 levels towards 1.0874 at least. II) A continued push lower from current levels, could bring back the long-term bearish structure into focus and EUR/USD should see parity levels sooner. The probabilities are evenly spread for now, with both bulls and bears wanting to take control from here. It is therefore recommended to remain flat for now. Immediate support is seen at 1.0380 levels, while resistance is seen at 1.0670 levels respectively.
Trading recommendations:
Remain flat for now.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2iAEMKj
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