2 Feb 2015
Credit Suisse: EUR/USD immediate risk stays lower while capped below 1.1423/60 - eFXnews
FXStreet (Barcelona) - The eFXnews Team shares Credit Suisse’s technical outlook for EUR/USD, with CS staying short on the pair, targeting 1.0840 levels.
Key Quotes
“With the market still capped below price, downtrend and falling 13-day average resistance at 1.1423/60, the immediate risk remains lower.”
“Support shows at 1.1262/59 at first, followed by 1.1224/21.”
“A break below the cycle low at 1.1098 is needed to confirm the resumption of the core bear trend, with our medium-term target placed at 1.0836/0765 – price and 50% retracement of the 1985/2008 bull trend.”
“Resistance remains at 1.1368, followed by 1.1423. Above can see more important resistance from price, downtrend and falling 13-day average at 1.1447/60 which we look to cap any near-term strength”
“CS maintains a short EUR/USD position from 1.1357 targeting 1.0840.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“With the market still capped below price, downtrend and falling 13-day average resistance at 1.1423/60, the immediate risk remains lower.”
“Support shows at 1.1262/59 at first, followed by 1.1224/21.”
“A break below the cycle low at 1.1098 is needed to confirm the resumption of the core bear trend, with our medium-term target placed at 1.0836/0765 – price and 50% retracement of the 1985/2008 bull trend.”
“Resistance remains at 1.1368, followed by 1.1423. Above can see more important resistance from price, downtrend and falling 13-day average at 1.1447/60 which we look to cap any near-term strength”
“CS maintains a short EUR/USD position from 1.1357 targeting 1.0840.”
This content has been provided under specific arrangement with eFXnews.