EUR/USD: Battle Lines Drawn

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EUR/USD Daily Chart

EUR/USD Price Chart- Daily Timeframe

Technical Outlook: Yesterday we highlighted a longer-term technical resistance confluence in EURUSD with the long-bias at risk while below 1.2042/80. Daily support rests at 1.1910 (8/2 swing high / monthly open) – this level converges on the 75% line over the next few days. The focus is on a break of this range with a move lower suggesting a more significant correction is underway. A breach of the highs targets the 50% retracement at 1.2167.

EUR/USD 240min

EURUSD Price Chart- 240min Timeframe

Notes:A closer look at price action highlights a rebound off near-term confluence support at 1.1910/28 and although we could see some further upside, the focus

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/scalping_report/2017/09/12/Forex-EURUSD-Battle-Lines-Drawn.html?DFXfeeds=forex:fundamental:daily_briefing:daily_pieces:scalping_report