Back
14 Apr 2015
EUR/USD to nd bids as it approaches 1.0520 low - FXCharts
FXStreet (Bali) - Technically, according to Jim Langlands, Founder at FXCharts, the shorter term charts suggest that the Euro is going to find bids as it approaches 1.0520 low.
Key Quotes
"However, the dailies remain negative and a break of this would signal a run to 1.0500 and then towards the previous, 13 Mar, 1.0461 low. Beyond there, support is again rather thin until the March 2003 low at 1.0334."
"On the topside, 1.0600/10 will act as minor resistance today ahead of further sellers likely to be seen at 1.0640 (23.6% of 1.1035/1.0520, a break of which would see a squeeze to 1.0680 (100 HMA) and to 1.0715 (38.2%)."
Key Quotes
"However, the dailies remain negative and a break of this would signal a run to 1.0500 and then towards the previous, 13 Mar, 1.0461 low. Beyond there, support is again rather thin until the March 2003 low at 1.0334."
"On the topside, 1.0600/10 will act as minor resistance today ahead of further sellers likely to be seen at 1.0640 (23.6% of 1.1035/1.0520, a break of which would see a squeeze to 1.0680 (100 HMA) and to 1.0715 (38.2%)."