Euro — $6E_F $EURUSD

The Euro has lost 200 pips over the last 24 hs. – It seems to have reached some sort of support in the 1.3590-1.3560 area, which has worked previously – Below, even more support 1.3590-1.3560.

 

Eur_001

The combination of support with a positive divergence in orderflow, located at the bottom of the channels – It also important to take into account that the channel is still point downwards – I´m leaning towards more upside, although Bond auctions in Europe will probably set the tone of London session – Resiatance is located at 1.3690-1.3710 1.3720-1.3730 and 1.3750-1.3760 –  This is a very thin area, which suggests that upside momentum might be easier to achieve, in the event the move is supported by positive orderflow readings – I will post an update tomorrow.

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