27 Feb 2015
EUR/USD upside capped at 1.1260, bearish trend remains – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Matias Salord, views EUR/USD might extend is decline towards 1.1180 if the support at 1.1200 breaks, but also warns of surprise price actions due to monthly end flows.
Key Quotes
“To the upside, the 1.1260 is likely to stop the recovery and a price zone from where the euro could start falling again. If it rises above and holds it could extend to the upside.”
“Monthly end flows could trigger surprise price action moves.”
“The long term bearish trend remains in place. To the downside, the immediate support lies at 1.1200 that already offered support during the Asian and the European session. A break lower would exposed yesterday’s lows at 1.1180. A continuation below could push the pair to test 1.1110; if broken we should start getting ready for fresh multi-year lows.”
Key Quotes
“To the upside, the 1.1260 is likely to stop the recovery and a price zone from where the euro could start falling again. If it rises above and holds it could extend to the upside.”
“Monthly end flows could trigger surprise price action moves.”
“The long term bearish trend remains in place. To the downside, the immediate support lies at 1.1200 that already offered support during the Asian and the European session. A break lower would exposed yesterday’s lows at 1.1180. A continuation below could push the pair to test 1.1110; if broken we should start getting ready for fresh multi-year lows.”