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23 Feb 2015
EUR/USD bear bias for 1.1279/70 – MarketChartist
FXStreet (Barcelona) - Steve Miley of MarketChartist, views EUR/USD might head down towards 1.1279/70, a break below which might lead the pair towards 1.1224.
Key Quotes
“Whipsaw price action Friday, but still with the coiled consolidation phase dominating for the past 2-3 week, rebounding from 1.1279/70 support, but still capped by the 1.1445/50/51 area.”
“We still see a negative bias both in the very short-term and for the short to intermediate view.”
“We repeat that whilst below key barriers at 1.1500 and more notably 1.1534 we see a downside bias and likely resolution through support at 1.1279/70 and 1.1261 for a bearish trend continuation.”
“For Today: We see a downside bias for 1.1279/70; break aims for 1.1224”
Key Quotes
“Whipsaw price action Friday, but still with the coiled consolidation phase dominating for the past 2-3 week, rebounding from 1.1279/70 support, but still capped by the 1.1445/50/51 area.”
“We still see a negative bias both in the very short-term and for the short to intermediate view.”
“We repeat that whilst below key barriers at 1.1500 and more notably 1.1534 we see a downside bias and likely resolution through support at 1.1279/70 and 1.1261 for a bearish trend continuation.”
“For Today: We see a downside bias for 1.1279/70; break aims for 1.1224”