EUR has made a sharp fall yesterday during the american session, and is now in a consolidation phase as I've mentioned in my last update. Pullback has reached no more than 1.4281 (my forecast was 1.4270). Watch for a clear break of the support zone 1.4230-1.4210. Once below 1.4210 our target should be 1.4120 and even below, but a strong support is @ 1.4160-70. Below 1.4120 thera are no support lines and we are going to test 1.40. On the upside the things look pretty difficult, we have a very strong resistance @ 1.4330 which I expect to hold for today.

My strategy for to day is SHORT below 1.4330 with 30-40 pips stop, first target 1.4170, second target 1.4120.

Any comments and questions are welcomed 

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Tags: EUR/USD

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