22 Jan 2015
EUR/USD heading towards 1.1403 levels – AceTrader
FXStreet (Barcelona) - The AceTrader Team mentions that EUR/USD is heading towards 1.1403 levels, and only above 1.1680 would signal an upside risks towards 1.1728 levels.
Key Quotes
“Looking at the bigger picture, last week's breach of key sup at 1.1640 (2005 low) signals LT downtrend fm 1.6040 (2008 record high) to retrace the entire uptrend fm 0.8228 record low made in 2000 wud extend weakness twd 1.1212 in Q1, being the 'dynamic' 61.8% r of this move.”
“On the upside, only a daily close abv 1.1728 signals temporary low is made n risks stronger retracement twd 1.1871 but price shud falter below 1.1976 (Jan 5 high) n yield another decline.”
“Looking ahead, price is en route to 1.1403, being equality projection of 1.3995-1.2500 measured fm 1.2888 later this month. On the upside, abv 1.1680 wud risk stronger gain to 1.1728, then 1.1763 (being 38.2% r of 1.2254 to 1.1460).”
Key Quotes
“Looking at the bigger picture, last week's breach of key sup at 1.1640 (2005 low) signals LT downtrend fm 1.6040 (2008 record high) to retrace the entire uptrend fm 0.8228 record low made in 2000 wud extend weakness twd 1.1212 in Q1, being the 'dynamic' 61.8% r of this move.”
“On the upside, only a daily close abv 1.1728 signals temporary low is made n risks stronger retracement twd 1.1871 but price shud falter below 1.1976 (Jan 5 high) n yield another decline.”
“Looking ahead, price is en route to 1.1403, being equality projection of 1.3995-1.2500 measured fm 1.2888 later this month. On the upside, abv 1.1680 wud risk stronger gain to 1.1728, then 1.1763 (being 38.2% r of 1.2254 to 1.1460).”