EURUSD Technical Outlook-
It shows that EURUSD is in bullish recovery movement from the support area 1.0550. The target of our last week forecast was 1.1150 and the market move around 200 pips toward our forecasted direction. Now more bullish movement is expected with the same target 1.1150 as this a short term resistance zone and market can retest the zone. As our main bias is still bearish so it is expected that market can be bearish after testing 1.1150 areas. Before that we need to observe the market flow and the price reaction if price reach the level.
EURUSD Fundamental Outlook-
The EURO rose Last week. US Job data data on Friday was dovish and European Central Bank’s stimulus program help to rise EURO. Subsequently EUR/USD bullish could be expected.
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