Big day for risk assets today, looking at EUR/USD futures, we note that Low Volume Node (LVN) at around 1.2780 area which is a major resistance area. So from this we are definitely still bearish on Euro as long as we stay below that level, but we cannot rule out a move higher if we break above that considering the market has parred back significantly on Short positions. We would be looking for a move into the 1.3020 area which is our next LVN if we get a daily close above that 1.2780 area, but I would make sure ACC/DIST confirms a break of resistance area before taking long's.
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