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15 May 2015
EUR/USD: temporary top in place? – FXStreet
FXStreet (Barcelona) - With EUR/USD trading soft, FXStreet Editor and Analyst, Omkar Godbole, views that a break below 1.1369 will push the pair towards 1.1293.
Key Quotes
“On the charts, the pair appears exhausted, especially after having faced rejection around 1.1415 levels in the Asian session today. On the downside, a break below 1.1369 (23.6% of 1.1130-1.443) and then a move back below 1.1293 (23.6% of 1.3991-1.0461) would indicate a temporary top is made in the pair.”
“Meanwhile, on the upside, 1.1443-1447 (Feb. 17 high) could shift risk in favor of a further upside move towards 1.15.”
Key Quotes
“On the charts, the pair appears exhausted, especially after having faced rejection around 1.1415 levels in the Asian session today. On the downside, a break below 1.1369 (23.6% of 1.1130-1.443) and then a move back below 1.1293 (23.6% of 1.3991-1.0461) would indicate a temporary top is made in the pair.”
“Meanwhile, on the upside, 1.1443-1447 (Feb. 17 high) could shift risk in favor of a further upside move towards 1.15.”