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20 May 2015
EUR/USD downside bias for 1.0662/66 – AceTrader
FXStreet (Barcelona) - The AceTrader Team maintains a negative bias on EUR/USD, anticipating a move lower towards 1.0662/66.
Key Quotes
“Euro's sell off to 1.1118 in New York yesterday after dovish comments from ECB's Benoit Coeure and upbeat U.S. housing data signals erratic up move from March's 12-year trough at 1.0457 has indeed made a temporary top at 1.1467 last Friday and consolidation with downside bias remains for another leg of correction to 1.0662/66, then 1.1020/30 later.”
“On the upside, only above 1.1217 resistance would abort this bearish scenario and shift risk to upside for stronger gain towards 1.1250/60.”
Key Quotes
“Euro's sell off to 1.1118 in New York yesterday after dovish comments from ECB's Benoit Coeure and upbeat U.S. housing data signals erratic up move from March's 12-year trough at 1.0457 has indeed made a temporary top at 1.1467 last Friday and consolidation with downside bias remains for another leg of correction to 1.0662/66, then 1.1020/30 later.”
“On the upside, only above 1.1217 resistance would abort this bearish scenario and shift risk to upside for stronger gain towards 1.1250/60.”