Euro’s sharp recovery from the session low of 1.0494 to above 1.0527 (61.8% of 1.0341-1.0827) suggests the sell-off from the high of 1.0827 may have run out of steam and a potential rally above 1.0615 tomorrow would increase the odds of the pair rising to inverse head and shoulder neckline seen around 1.0810 levels.
A daily close below 1.0527 would squash hopes of the pair forming an inverse head and shoulder.
A daily close below 1.0527 would squash hopes of the pair forming an inverse head and shoulder.
