Technical Outlook for Majors 03/07/2015
 

EURUSD
The Euro trades in a tight range, entrenched within daily 100SMA and daily cloud that marks initial range. The lower boundary was cracked but no clear break seen so far, to confirm downside resumption and open next support at 1.0992, daily cloud base. However, near-term structure remains negative and sees further weakness favored. Bearish resumption through initial 100SMA and cloud base, to face week