EUR/USD Short term Outlook

 

Last Friday, the EUR/USD dipped briefly to a fresh multi-week low near $1.2200 before spiking to a high of $1.2296 today.

 

However, on the 5 mins Chart, the rally on the pair is still looking corrective, suggesting a further drop to $1.2125/35 in the coming days.

 

On the flip side, a move back above $1.2300 followed by $1.2404 would open the door for further gains to $1.2650.

 

 

 

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