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EURUSD Bear Threat to Test 2014 Low at 1.3477 Intact This Week

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EURUSD Bear Threat to Test 2014 Low at 1.3477 Intact This Week

EURUSD risk skewed lower, whilst minimally below 1.3605

·         A bullish outside pattern Monday likely eases immediate support risks and points to a digestion theme into midweek, capped below 1.3605, but holding above the 1.3503 low.

·         However, whilst below 1.3690 chart/ retrace resistance, we see bear pressures intact for a test of the 1.3503 spike low later this week.

·         The risk is growing for a break below 1.3503 this week for targets at 1.3477, 1.3400 and 1.3375.

·         The measured objective for the March-May Double Top is closer to 1.3350.


·         Above 1.3690 eases bear risks; through 1.3735 signals a neutral tone, only shifting positive above 1.3775.


Please see full report with levels and latest screencast here:



4 Hour EURUSD Chart


Daily EURUSD Chart


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Tagged in: Bearish Euro EURUSD Forex FX

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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