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10 Feb 2015
EUR/USD: Looking to sell on rallies - 2ndSkies
FXStreet (Bali) - After an unconvincing bounce in EUR/USD, Chris Capre, Founder at 2ndSkies Forex, is still looking to sell on any rallies into the key resistance and sell zone circa 1.15.
Key Quotes
Today the euro bids held the key support level around 1.1270/80 that we discussed. But....the bounce is now inside a smaller range around 1.1360/75 and 1.1270/80. Overall, its not that convincing a bounce IMO.
Hence, I'm still favoring the bear side, so will be looking to sell on any rallies into the key resistance and sell zone. Only a daily close above here changes my bias ST. A break below support opens up a likely attack on the yearly lows.
Key Quotes
Today the euro bids held the key support level around 1.1270/80 that we discussed. But....the bounce is now inside a smaller range around 1.1360/75 and 1.1270/80. Overall, its not that convincing a bounce IMO.
Hence, I'm still favoring the bear side, so will be looking to sell on any rallies into the key resistance and sell zone. Only a daily close above here changes my bias ST. A break below support opens up a likely attack on the yearly lows.