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- Intraday bias in EUR/USD remains bullish as consolidation from 1.1059 continues.
- On the downside, below 1.0707 will turn bias to the bearish again.
- The European economic calendar starts on Monday, with manufacturing PMIs from across the euro zone. The print from the whole zone is expected to decline from 53.2 to 52.3 in January.
- Pair is currently trading at $1.0849 levels, made intraday high at $ 1.0852 and low at $1.0815 levels.
- Initial resistance levels are seen at $1.0856, $1.0967 and $1.1059 levels.
- On the down side support levels are seen at $ 1.0809, $1.0710 and $1.0516 levels.
We prefer to take long position in EUR/USD around $1.0830, stop loss $1.0710 and target $1.0967 levels.
