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EURUSD Bias for Roll Lower from 1.2740 for 1.2665, maybe 1.2614/05

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EURUSD Bias for Roll Lower from 1.2740 for 1.2665, maybe 1.2614/05

EURUSD defensive range tone

·         Despite a modest bounce effort from supports at 1.2605 and more notable 1.2583, we still see a broader range theme into late October, defined by 1.2583 and 1.2840/45.

·         Moreover, we also see narrower range parameters at 1.2740 and 1.2614/05 containing price action into midweek.

·         This leaves the bias for Tuesday for a roll back lower from ahead of 1.2740 towards 1.2665, maybe closer to 1.2614.

WHAT CHANGES THIS?

·         Downside: Below 1.2583 sees risk lower for 1.2500 and 1.2460.

·         Upside: Above 1.2840/45 aims higher for 1.2888 and 1.2902/30 targets.

Download our full report with latest screencast & levels here: http://members.marketchartist.com/Daily/EURUSD.pdf

4 Hour EURUSD Chart

b2ap3_thumbnail_EURUSD1_20141028-072249_1.png

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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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