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9 Feb 2015
EUR/USD bid only above 1.1440 – Vladimir Mihaylov
FXStreet (Barcelona) - Independent Analyst, Vladimir Mihaylov, shares the technical outlook for EUR/USD, noting that the pair has chances to recover higher, but only above 1.1440.
Key Quotes
“EUR opened today with a small downside gap but the 1.1290 support stopped the downside move and the price bounced back to 1.1340 resistance.”
”Next resistance comes at 1.1360-1.1380 area and above that the upside will accelerate.”
“Target will be set at 1.1530, but before that 1.1410 and 1.1440 have to be broken too.”
“This week there are few important economic releases and this somehow will help the EUR to recover further to the upside, but i do not expect for now recovery above 1.1600.”
“To the downside a drop below 1.1310 will test 1.1290 again and then 1.1220. If that support is broken this may cause another 100 pips to the downside to 1.1100 or even below.”
Key Quotes
“EUR opened today with a small downside gap but the 1.1290 support stopped the downside move and the price bounced back to 1.1340 resistance.”
”Next resistance comes at 1.1360-1.1380 area and above that the upside will accelerate.”
“Target will be set at 1.1530, but before that 1.1410 and 1.1440 have to be broken too.”
“This week there are few important economic releases and this somehow will help the EUR to recover further to the upside, but i do not expect for now recovery above 1.1600.”
“To the downside a drop below 1.1310 will test 1.1290 again and then 1.1220. If that support is broken this may cause another 100 pips to the downside to 1.1100 or even below.”