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EURUSD Bear Risk Still Lower for 1.3105 (1.3020/00 into Early September)

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EURUSD Bear Risk Still Lower for 1.3105 (1.3020/00 into Early September)

EURUSD bear bias

·         A breakdown through the recent cycle low to end the week and month as we had flagged and expected to maintains bearish pressures into September from the previous erosion of important supports from the 2013-14 bull run.

·         We still see early September risk to the 1.3105 swing low from September 2013.

·         Overshoot threat for early September is lower, for the 78.6% retrace of the 2013-14 rally at 1.3020 and 1.3000.


·         Above 1.3221 eases bear risks; through 1.3298 signals a neutral tone, only shifting positive above 1.3445.

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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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