EURUSD

A big sell off on EURUSD on Friday has given the pair a broader term direction.

Better German PMI figures from this morning have given a temporary boost to the Euro. However we don’t expect these gains will last.

We expect the pair to be contained by resistance at 1.2438. Therefore we are taking a PUT contract into the end of the week.

PUT- EUR/USD 1.2420 to end the week LOWER.

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