30 Jan 2015
EUR/USD attempting to base - 2ndSkies
FXStreet (Bali) - Chris Capre, Founder at 2ndSkies, notes that EUR/USD is attempting to base, but that some important resistance at 1.1384 ahead of 1.1450/1.1545.
Key Quotes
"Although there has been some decent selling below ST resistance around 1.1384, the pair hasn't maintained any bearish pressure, with the price action trotting around 1.1275 - 1.1384."
"Intra-day resistance is ahead at the latter level, but a break here will test offers in the next resistance zone around 1.1545 - 1.1450. If this level holds, then we'll likely see another attack lower. But a daily close above here means the pair is attempting to base."
Key Quotes
"Although there has been some decent selling below ST resistance around 1.1384, the pair hasn't maintained any bearish pressure, with the price action trotting around 1.1275 - 1.1384."
"Intra-day resistance is ahead at the latter level, but a break here will test offers in the next resistance zone around 1.1545 - 1.1450. If this level holds, then we'll likely see another attack lower. But a daily close above here means the pair is attempting to base."