18 Feb 2015
EUR/USD failure to break above 1.1460 might pave way for 1.1245 – Kshitij Consultancy
FXStreet (Barcelona) - The Kshitij Consultancy Team shares the technical outlook for the single currency, expecting the continuous failure to break above 1.1460-70 region to lead the pair lower towards 1.1245 over the rest of the week.
Key Quotes
“Majors currencies are at crucial near-term crossroads, needing to decide whether to strengthen against the Dollar or not.”
“Continued failure to break above Resistance in the 1.1460-70 region over the last three days could send the Euro (1.1407) towards 1.1245 over the rest of the week and maybe even 1.1195 next week.”
“This may suggest resumption of long-term downtrend. But, the market seems to be waiting for the ECB Meeting today to see what Draghi has the say about the Greek situation.”
“Break above 1.1500 needed to bring in more aggresive Euro buying.”
Key Quotes
“Majors currencies are at crucial near-term crossroads, needing to decide whether to strengthen against the Dollar or not.”
“Continued failure to break above Resistance in the 1.1460-70 region over the last three days could send the Euro (1.1407) towards 1.1245 over the rest of the week and maybe even 1.1195 next week.”
“This may suggest resumption of long-term downtrend. But, the market seems to be waiting for the ECB Meeting today to see what Draghi has the say about the Greek situation.”
“Break above 1.1500 needed to bring in more aggresive Euro buying.”