EUR/USD Daily

[عماد]

The anticipated rebound back to the 1.2175-1.22 area started slightly before the 1.2110 ideal target (low seen near 1.2120). Today we face again a rather neutral short-term technical situation providing not much directional view. Though, we think that a downside bias should prevail. We might be confronted to an intraday upside retracement phase that should ideally stay below 1.2235 so that sooner or later the downside pressure can increase again. An unexpected move beyond 1.2260 would be very critical. A dip below the yesterdays low near 1.2120 is needed to indicate further losses towards 1.2025.