9 Apr 2015
EUR/USD might make another attempt towards 1.0825 – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, EUR/USD looks likely to move higher to test 1.0825 levels if it sustains above 1.0756.
Key Quotes
“On the daily charts, we see a double top formation, with the neckline support at 1.0711. The pair has suffered losses for the three consecutive sessions and trades weak today at 1.0767. We also see that a minor rising trend line has been breached.”
“A drop to 1.0756 (50% Fib retracement of 1.0461-1.1050) could be seen, whereby a fresh demand for Euros could emerge. The pair could rise to 1.0825 (38.2% Fib retracement of 1.0461-1.1050) in case it manages to sustain above 1.0756 as expected.”
“On the other hand, a break below 1.0756 could drive the pair lower to 1.0711.”
Key Quotes
“On the daily charts, we see a double top formation, with the neckline support at 1.0711. The pair has suffered losses for the three consecutive sessions and trades weak today at 1.0767. We also see that a minor rising trend line has been breached.”
“A drop to 1.0756 (50% Fib retracement of 1.0461-1.1050) could be seen, whereby a fresh demand for Euros could emerge. The pair could rise to 1.0825 (38.2% Fib retracement of 1.0461-1.1050) in case it manages to sustain above 1.0756 as expected.”
“On the other hand, a break below 1.0756 could drive the pair lower to 1.0711.”