Pivot: 1.0895

Most Likely Scenario: short positions below 1.0895 with targets @ 1.0835 & 1.08 in extension.

Alternative scenario: above 1.0895 look for further upside with 1.0945 & 1.0975 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.0895.

EURUSD eroded any fundamental expectations in the recent month. EUR advanced against the most currencies despite pure economic situation, negative interest rates and expected monetary easiing. The downward correction of EUR is likely.

Todays forecast for EURUSD is down. Take short positions below 1.0895 with targets @ 1.0835 & 1.08 in extension.
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