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8 Jan 2015
EUR/USD: Bearish bias while below 1.1957/75 - 2ndSkies
FXStreet (Bali) - According to Chris Capre, Founder at 2ndSkies Forex, EUR/USD bearish outlook remains intact, with only a break above 1.1957/75 changing the bias short term.
Key Quotes
"Continuing the bear trend as we've been writing about, the Euro sold lower from another role reversal level around 1.1881, then dropping straight for the 1.18 figure. From here the pair bounced a bit and held a light bid post FOMC."
"For now, intra-day resistance comes in at 1.1881 so this will be a short term barrier intra-day tomorrow. Beyond this, there is the next role reversal level around 1.1957/75 which we talked about in prior commentaries. Only a daily close above the latter will change the bearish bias short term."
Key Quotes
"Continuing the bear trend as we've been writing about, the Euro sold lower from another role reversal level around 1.1881, then dropping straight for the 1.18 figure. From here the pair bounced a bit and held a light bid post FOMC."
"For now, intra-day resistance comes in at 1.1881 so this will be a short term barrier intra-day tomorrow. Beyond this, there is the next role reversal level around 1.1957/75 which we talked about in prior commentaries. Only a daily close above the latter will change the bearish bias short term."