18 Feb 2015
EUR/USD another leg higher before bears can rejoice – BAML
FXStreet (Barcelona) - MacNeil Curry, CFA, CMT, Technical Strategist at BofA-Merrill Lynch, views that EUR/USD correction might extend to 1.1730 before the pair resumes lower towards 1.1098.
Key Quotes
“Correcting higher. Since the Jan-29 low at 1.1098, €/$ has been stuck in a choppy correction.”
“Within this correction, we look for one last push higher toward 1.1730, before renewed topping and a resumption of the larger bear trend for 1.1098, ahead of 1.0765 and eventually below.”
“A break of 1.1270 says the downtrend is resuming.”
Key Quotes
“Correcting higher. Since the Jan-29 low at 1.1098, €/$ has been stuck in a choppy correction.”
“Within this correction, we look for one last push higher toward 1.1730, before renewed topping and a resumption of the larger bear trend for 1.1098, ahead of 1.0765 and eventually below.”
“A break of 1.1270 says the downtrend is resuming.”