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21 May 2015
EUR/USD downside bias for 1.0994 – AceTrader
FXStreet (Barcelona) - The AceTrader Team maintains a negative bias on EUR/USD, expecting some consolidation before attention shifts to 1.0994.
Key Quotes
“Despite euro's choppy sideways move after extending decline from last Friday's 3-month peak at 1.1467 to 1.1062 yesterday, downside bias remains for said move to retrace the entire up move from March's 12-year trough at 1.0457 to resume after consolidation and yield further weakness to 1.0994 (50% r) but sharp fall below is not likely due to near term loss of momentum.”
“On the upside, only a daily close above 1.1217 resistance would indicate a low is made and shift risk to upside for stronger gain towards 1.1260/70 and possibly towards 1.1321/26.”
Key Quotes
“Despite euro's choppy sideways move after extending decline from last Friday's 3-month peak at 1.1467 to 1.1062 yesterday, downside bias remains for said move to retrace the entire up move from March's 12-year trough at 1.0457 to resume after consolidation and yield further weakness to 1.0994 (50% r) but sharp fall below is not likely due to near term loss of momentum.”
“On the upside, only a daily close above 1.1217 resistance would indicate a low is made and shift risk to upside for stronger gain towards 1.1260/70 and possibly towards 1.1321/26.”