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EURUSD Bear Bias within Range

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EURUSD Bear Bias within Range

A negative start to the week as expected, to dismiss the rebound effort late last week and leave a downside bias to the range theme for Tuesday and the focus on support.

The bearish outside pattern on Friday 2nd May through 1.1064 negated the prior bullish tone for a shift back to a broader range environment.

For Today:

We see a downside bias for 1.0885, then 1.0866; break here aims for 1.0819, maybe 1.0786.

But above 1.1006 opens risk up to 1.1064/65, which we would look to cap.

Short/ Intermediate-term Range Parameters: We see the range defined by 1.0658 and 1.1208.

Range Breakout Challenge

Upside: Above 1.1208 aims higher for 1.1467 and 1.1680.

Downside: Below 1.0658 sees risk lower for 1.0520 and 1.0459.


A taster of the report above. To view the full EURUSD report with screencasts, levels and more, click here

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2 Hour EURUSD Chart 


Daily EURUSD Chart


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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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