19 Jun 2015
EUR/USD might sell-off to 1.1293 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, views that EUR/USD’s inability to take out the resistance around 1.1370-1.1385 signals for a dip towards 1.1293 levels.
Key Quotes
“On the daily chart, we see the pair was rejected at 1.1386 in the Asian session, post which the spot has turned lower to trade around 1.1350. On the closing basis, the pair once again failed to take out the resistance zone of 1.1370-1.1385 on Thursday. The bearish close followed by early rejection at 1.1386 opens doors for a sell-off to 1.1293 levels (23.6% Fib R of 1.3991-1.0461).”
“On the higher side, a break above 1.1396 (150% Fib E of 1.0461-1.1050-1.0519), could open doors for a re-test of 1.1434. A daily close today below 1.1293 would be highly bearish.”
Key Quotes
“On the daily chart, we see the pair was rejected at 1.1386 in the Asian session, post which the spot has turned lower to trade around 1.1350. On the closing basis, the pair once again failed to take out the resistance zone of 1.1370-1.1385 on Thursday. The bearish close followed by early rejection at 1.1386 opens doors for a sell-off to 1.1293 levels (23.6% Fib R of 1.3991-1.0461).”
“On the higher side, a break above 1.1396 (150% Fib E of 1.0461-1.1050-1.0519), could open doors for a re-test of 1.1434. A daily close today below 1.1293 would be highly bearish.”