EURO ended the session on Thursday with losses of 0.15%, versus the greenback, extending its losses to the second successive session. The pair closed below crucial levels at 1.3700- 1.3720; bottom end of the near term bullish channel for the second successive session. Near term, the declines could extend to 1.3500. The medium to long term trend however, remains bullish for targets of 1.4200; targets for the symmetrical triangle in an uptrend
TREND DIRECTION
- Short term: Bearish
- Medium term: Bullish
- Long term: Bullish
TRADING RECOMMENDATIONS
Short:
- At.1.3710 with a stop at 1.3750 for a profit target of 1.3520
Long:
- Exit long positions initiated at 1.3660 at the market * * At 2.38 AM GMT, the pair was seen trading at 1.3340 with the session highs at 1.3666
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