Hi Traders, My Point of ViewAll this consolidation can propel the Euro higher against US Dollar, with prices now poised to make a move above the 1.12 figure. Near-term resistance is at 1.1263, the 38.2% Fibonacci retracement, and a break above could expose the 50% level at 1.1513. Alternatively, a reversal below 1.0955 (trend line resistance-turned-support, 23.6% retracement) clears the way for a test of the 1.0456-541 area (March 16 low, the 23.6% Fib expansion).My long-term outlook= Euro weakness. With that in mind, we will treat any on-coming upswing as corrective and look to enter short once again.


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