9 Apr 2015
EUR/USD might target 1.0717/12 – DayTradeIdeas
FXStreet (Barcelona) - Jason Sen of DayTradeIdeas, shares the key technical levels for EUR/USD, anticipating a break below the 1.0755/50 support to target 1.0717/12 levels.
Key Quotes
“EURUSD collapsed to our target of 1.0780 & holding below here as I write now. The break of the 3 week trend line support adds pressure & a break below 1.0755/50 targets last week's low of 1.0717/12.”
“A break & close below here is more negative of course & targets support at 1.0685/80. This is the best chance bulls have to mount a defence today but with the outlook negative any longs need stops below 1.0650.”
“Be ready to go with a break lower using 1.0685/80 as resistance to target 1.0615/10 then 1.0585/80.”
“Above 1.0800 may open the door to a recovery as far as 1.0840/50. Sell expecting a high for the day with stops on a move above 1.0870. Try shorts again at 1.0890/95 with stops above 1.0915.”
Key Quotes
“EURUSD collapsed to our target of 1.0780 & holding below here as I write now. The break of the 3 week trend line support adds pressure & a break below 1.0755/50 targets last week's low of 1.0717/12.”
“A break & close below here is more negative of course & targets support at 1.0685/80. This is the best chance bulls have to mount a defence today but with the outlook negative any longs need stops below 1.0650.”
“Be ready to go with a break lower using 1.0685/80 as resistance to target 1.0615/10 then 1.0585/80.”
“Above 1.0800 may open the door to a recovery as far as 1.0840/50. Sell expecting a high for the day with stops on a move above 1.0870. Try shorts again at 1.0890/95 with stops above 1.0915.”