The euro was mostly weaker against its peers, except against the pound and the yen. Economic data from the euro zone was mostly stronger than expected but the shared currency appeared to have gotten weighed down by the idea that the UK could leave the single market. Euro zone PPI and Spanish unemployment change data are due today while the Australian building approvals showed a smaller than expected 1.8% fall versus the projected 5.8% slump.
The stochastic is on Oversold area on both D1 and H4 with D1 just turned up to exit the area, while H1 at 50-20 about to enter the oversold area.
A possible reversal on price action is expected, with stochastic on H1 about to enter the oversold and profit taking area, this might pull price up with no bears going into the trade. If price action revers and test previous resistance as support, a long position will be considered.




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