22 Jan 2015
EUR/USD longer-term threat to parity – MarketChartist
FXStreet (Barcelona) - Steve Miley of MarketChartist, views that EUR/USD longer-term threat is to parity and then 0.9900 levels.
Key Quotes
“Short-term Outlook - Downside Risks: For latter January the threat is to a monthly low from 2003 at 1.1381. For Q1, the risk is now to the 61.8% retrace of the entire 2000-2008 rally at 1.1210!!”
“Longer-term Outlook - Downside Risks: For Q1, overshoot risk is maybe as low as the September 2003 key swing low at 1.0765. For 2015, the threat is to PARITY and just below, .9900, the 78.6% retrace of the entire 2000-2008 bull rally.”
“For Today: We see a downside bias through 1.1540 for the recent 1.1460 low; violation would aim for key 1.1381. But above 1.1680 opens risk up to the trend line (1.1705), which we would look to cap. Break targets 1.1787.”
Key Quotes
“Short-term Outlook - Downside Risks: For latter January the threat is to a monthly low from 2003 at 1.1381. For Q1, the risk is now to the 61.8% retrace of the entire 2000-2008 rally at 1.1210!!”
“Longer-term Outlook - Downside Risks: For Q1, overshoot risk is maybe as low as the September 2003 key swing low at 1.0765. For 2015, the threat is to PARITY and just below, .9900, the 78.6% retrace of the entire 2000-2008 bull rally.”
“For Today: We see a downside bias through 1.1540 for the recent 1.1460 low; violation would aim for key 1.1381. But above 1.1680 opens risk up to the trend line (1.1705), which we would look to cap. Break targets 1.1787.”