Technical outlook and chart setups:
The EUR/USD pair is seen to be trading lower around 1.0583 at the moment, but be aware of the bullish divergences (not shown) on the chart setups. Bears might be surprised and the pair may hit the 1.0690 levels followed by 1.0763. It is recommended to remain flat and let the first resistance break at the 1.0690 levels before planning to go long. Aggressive traders might want to initiate 50% long positions with risk around the 1.0530 levels. Immediate support is seen at the 1.0565 levels (interim), while resistance is seen at the 1.0690 levels and higher.
Trading recommendations:
1. Conservative setup is to remain flat for now.
2. Aggressive setup is to go long, stop is at 1.0530, target is open.
Good luck!
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