19 May 2015
EUR/USD: downside bias for 1.1255/65 – AceTrader
FXStreet (Barcelona) - The AceTrader Team maintains a negative bias on EUR/USD, anticipating a move lower to test 1.1255/65 but 1.1202 might hold and see a rebound.
Key Quotes
“Euro's sell off from 1.1447 to 1.1229 on Monday signals erratic upmove from March's 12-year trough at 1.0457 has made a temporary top at last Friday's fresh 3-month peak at 1.1467 and as long as 1.1366/70 holds.”
“Choppy trading with downside bias remains for another corrective fall to 1.1255/65 later, however, reckon support at 1.1202 (last Wednesday low) would contain weakness and bring rebound later.”
“On the upside, only a move back above 1.1420/27 would indicate correction over instead, yield gain to 1.1447 and then re-test of 1.1467.”
Key Quotes
“Euro's sell off from 1.1447 to 1.1229 on Monday signals erratic upmove from March's 12-year trough at 1.0457 has made a temporary top at last Friday's fresh 3-month peak at 1.1467 and as long as 1.1366/70 holds.”
“Choppy trading with downside bias remains for another corrective fall to 1.1255/65 later, however, reckon support at 1.1202 (last Wednesday low) would contain weakness and bring rebound later.”
“On the upside, only a move back above 1.1420/27 would indicate correction over instead, yield gain to 1.1447 and then re-test of 1.1467.”