25 Feb 2015
EUR/USD long for 1.1400 – AceTrader
FXStreet (Barcelona) - The AceTrader Team maintains a long position for EUR/USD targeting 1.1400 levels, and suggests choppy consolidation might continue for the pair.
Key Quotes
“Y'day's price action suggests euro wud remain confined inside the 2-week long range of 1.1534-1.1270.”
“On the bigger picture, euro's early 3-legged rise fm Jan's 11-year trough at 1.1098 to 1.1534 confirms recent downtrend has made a temp. low there n despite fall to 1.1270, subsequent rebound suggests choppy trading abv 1.1098 wud continue this week.”
“A daily close abv 1.1450 wud bring another rise twd 1.1534 n only a break there wud yield correction to 1.1676/80, this is 50% r of MT intermediate fall fm 1.2254 to 1.1098 n daily res respectively.”
“A daily close below 1.1270 wud suggest said correction is over n bring a retest of 1.1098, then twd 'psychological' obj. at 1.1000 in Mar.”
“Today, we are holding a long position entered y'day for gain to 1.1400 later with a stop below 1.1270, below wud yield stronger weakness twds 1.1224 b4 prospect of a recovery later this week.”
Key Quotes
“Y'day's price action suggests euro wud remain confined inside the 2-week long range of 1.1534-1.1270.”
“On the bigger picture, euro's early 3-legged rise fm Jan's 11-year trough at 1.1098 to 1.1534 confirms recent downtrend has made a temp. low there n despite fall to 1.1270, subsequent rebound suggests choppy trading abv 1.1098 wud continue this week.”
“A daily close abv 1.1450 wud bring another rise twd 1.1534 n only a break there wud yield correction to 1.1676/80, this is 50% r of MT intermediate fall fm 1.2254 to 1.1098 n daily res respectively.”
“A daily close below 1.1270 wud suggest said correction is over n bring a retest of 1.1098, then twd 'psychological' obj. at 1.1000 in Mar.”
“Today, we are holding a long position entered y'day for gain to 1.1400 later with a stop below 1.1270, below wud yield stronger weakness twds 1.1224 b4 prospect of a recovery later this week.”