8 Dec 2014
EUR to see a rebound near 1.2100 levels – Vladimir Mihaylov
FXStreet (Barcelona) - Vladimir Mihaylov, Independent Analyst, expects the current downslide of the EUR/USD pair to halt somewhere above 1.2100 levels and initiate a strong recovery upside.
Key Quotes
“EUR started the week below 1.2300 level. This week's target will be 1.2220 and below. However I expect the current downside to stop somewhere above 1.2100 and from there to start a massive recovery to the upside.”
“All the things on Monthly may turn heavy EUR negative if next year EUR price drops below 1.2000. This if happens may push the price down to 1.1000 and even below. But let's now forget this scenario because it is a really long term one. This year's target will be somewhere above 1.2100 before any upside correction.”
“Daily and H4 indicators are currently bearish but starting to show tiny signs of recovery. First resistance comes at 1.2305 then 1.2325 and finally 1.2340. To the downside any break below 1.2290 will look for another support at 1.2255 and then at 1.2225 finally 1.2200.”
Key Quotes
“EUR started the week below 1.2300 level. This week's target will be 1.2220 and below. However I expect the current downside to stop somewhere above 1.2100 and from there to start a massive recovery to the upside.”
“All the things on Monthly may turn heavy EUR negative if next year EUR price drops below 1.2000. This if happens may push the price down to 1.1000 and even below. But let's now forget this scenario because it is a really long term one. This year's target will be somewhere above 1.2100 before any upside correction.”
“Daily and H4 indicators are currently bearish but starting to show tiny signs of recovery. First resistance comes at 1.2305 then 1.2325 and finally 1.2340. To the downside any break below 1.2290 will look for another support at 1.2255 and then at 1.2225 finally 1.2200.”