EUR crosses/EUR/USD

EUR/USD session outlook: Dominated by cross plays

I don’t think there is much point in looking for technical guides for the EUR/USD when it is so clearly dominated by events in the crosses. The big topside levels to watch are 104.80 in EUR/JPY and 1.2450 in EUR/AUD; when the market gets close to these levels then EUR/USD should start hitting solid resistance. Crosses like EUR/JPY have had a vertical rise and the fall is likely to be vertical as well, so care is warranted once the reversal kicks in.

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