EUR/USD OUTLOOK : 29.08.2016

EUR/USD OUTLOOK : 29.08.2016
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EUR/USD. Pair after opening at 1.1298Made a high of 1.1341, and was trading with a negative bias, during the day ,after the yellen speech and now the pair has violated the recent range and any rise close to its yesterdays high likely to find resistance, while strong resistance near swing high and channel resistance 1.1360 will face strong hurdle, so rise shall be utilized to sell the pair

Fundamental Overview

Euro is trading at 1.1200, depreciating against the US dollar in the aftermath of Yellen and Fisher speech. Euro has retreated from the near the 1.14 to current levels and is likely to remain in the broader range of 1.10-1.14 till strong evidence of dollar strength emerges in the form of economic data. Expect range bound trading in the pair for the day.
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