Euro / U.S. Dollar
Short
Updated

EURUSD move to daily demand zone before upward drive.

The EURUSD seems like it will go down into the daily demand zone around the 1.0500 psychological mark before an an upward drive from buyers. The pair is in the oversold area which sees sellers running out of steam. This could trigger the buyers to come in and push the pair up to 1.0720 and a further push could be possible to the 1.0750 and 1.0800 mark.
Note
Heading into the weekend, the pair looks to face some resistance at the 1.0800 psychological mark. A break beyond this point could see bulls pushing towards 1.0970. A downward trend seems most likely in the long term as sellers may want to go to that 1.0640 price.

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