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2 Feb 2015
EUR/USD: Potential breakdown? - 2ndSkies
FXStreet (Bali) - According to Chris Capre, Founder at 2ndSkies, EURUSD continues to hold its key role reversal level, with now a potential breakdown in store.
Key Quotes
"After spending the last 3 days trying to penetrate the offers just below 1.14, the Euro failed to make similar highs, and produced a few lower highs closing the week just below the 1.13 handle."
"Short term the pair is in a small range with a bearish bias. Any weak pullbacks towards resistance are solid sell opportunities. Only a daily close above 1.1560+ negates the bear trend MT."
Key Quotes
"After spending the last 3 days trying to penetrate the offers just below 1.14, the Euro failed to make similar highs, and produced a few lower highs closing the week just below the 1.13 handle."
"Short term the pair is in a small range with a bearish bias. Any weak pullbacks towards resistance are solid sell opportunities. Only a daily close above 1.1560+ negates the bear trend MT."