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EUR/USD: Bearish: Room to extend lower but 1.0820 is a major support.The current short-term consolidation/correction phase is taking longer than expected as EUR continues to hold above the 1.1095/00 support. Downward momentum is beginning to show signs of slowing but as long as 1.1210 is intact, we are not giving up on our bearish view just yet. That said, the prospect for a sustained down-move has clearly dimmed and EUR has to move and stay below 1.1095 within these couple of days or the risk o…
garikson's Blog
Tech Targets
EUR/USD: Bearish: Diminished bearish momentum but downside risk is still clearly intact.The rebound from last Friday’s low of 1.0909 has been more resilient than expected as EUR touched a high of 1.1155 yesterday. However, most indicators are still in bearish territory and the greater risk still lies of the downside. The 1.0909 low is acting as a major support but a break of this level could lead to a rapid drop the mid-March low of 1.0820. Only a move above 1.1210 would indicate that a short-te…
Tech Targets
EUR/USD: Bearish: Room to extend lower but 1.0820 is a major support.While the rebound from last Friday’s 1.0909 low has been more resilient than expected, there is no change to the bearish outlook for EUR. The current price action is viewed as a corrective rebound and as long as 1.0210 is not taken out, a move to 1.0820 cannot be ruled out just yet.
GBP/USD: Bearish: A move to 1.3000 would not be surprising. [No change in view]The short-term GBP strength is viewed as a corrective rebound and it is too early to ex[/No]…
GBP/USD: Bearish: A move to 1.3000 would not be surprising. [No change in view]The short-term GBP strength is viewed as a corrective rebound and it is too early to ex[/No]…
Tech Targets
EUR/USD: Neutral: In a broad 1.1130/1.1385 range.Despite the smart rebound from the 1.1235/40 support, we view the up-move as part of a broader consolidation. However, the current neutral outlook for EUR would shift to bullish if there is a daily closing above 1.1385 (with an immediate target of 1.1445). At this stage, it is unclear whether EUR can move above this level but on a shorterterm note, the undertone appears to be positive with strong support at 1.1235/40.
GBP/USD: 1.4795 Bullish; imme…
GBP/USD: 1.4795 Bullish; imme…