EURUSD aims for 1.3400 and 1.3375 targets next
- We stated in our last client report that “whilst minimally capped by 1.3573/75, we see bias for a more bearish theme to target 1.3477, the 2014 low”.
- We see negative pressures from the late Friday spike down through the 1.3503 low and previous break below firm support at 1.3575 for still further erosion this week.
- We now see risk to chart and retrace supports at 1.3400 and 1.3375 respectively.
- Overshoot threat is now to the 1.3295 spike low.
WHAT CHANGES THIS?
- Above 1.3550 eases bear risks; through 1.3628 signals a neutral tone, only shifting positive above 1.3652.
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4 Hour EURUSD Chart
Daily EURUSD Chart