Execution of EUR/USD spread much more up to 1.3158 this last week to create a short-term high and pulled back. Preliminary arrangement is impartial in this week and would you anticipate different way trading side first. Be aware that the break strong resistance 1.2916 recommends that all withdraw from 1.3330 ended at 1.2587 now. Would you anticipate retraction from 1.3158 kept from 1.2916 resistance changed support and provide another wave. Above 1.3158 may point to 1.3330 and above. However, realize that ruptured 1.2916 reduces this situation and change the focus back to 1.2587/2643 support area.
In all, the perspective is very different for the time being, and we will continue to be impartial. Concern remains about whether medium-term correction from 1.6039 ended up from 1.1875 and no confirmation though. On the plus side, breaking the resistance 1.3330 suggest that come from 1.1875 started again and so I prefer the fact that EUR/USD is slumped out. In such circumstances, more elevation must be observed for trendline resistance (1.6039, 1.5143, now at 1.4600). On the negative side, though the discontinuation of 1.2587 support will show that drop from 1.5143 remains to happen to a test on key support 1.1639. Watch what the EUR/USD position will choose well before strengthening the prospect.