Euro maintains bullish bias and likely to benefit on any Brexit outcome
The Euro puled back after probing above daily cloud top (1.1123) in strong advance that was driven by Brexit deal announcement and pound’s reaction on news.
Near-term action is holding in consolidation range, after bulls were capped by 100DMA (1.1137),
but maintains bullish bias.
End of Brexit story, regardless to the final result, is likely to be supportive for the single currency that keeps focus at the upside.
Close above cloud top would generate fresh bullish signal for test of 1.1145 (50% retracement of 1.1412/1.0878) and possible extension towards psychological 1.1200 barrier (also near Fibo 61.8%).
Former high at 1.1109 and broken Fibo 38.2% barrier (1.1082) mark solid supports which are expected to hold extended dips and keep bulls in play.
Res: 1.1145; 1.1163; 1.1208; 1.1228
Sup: 1.1109; 1.1082; 1.1065; 1.1000