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EURUSD Bull Threats

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EURUSD Bull Threats

The push up through 1.1208 set a more bullish tone into early/mid-June and the follow-through above the 1.1328 retracement target reinforces this view.

Although the intraday setback and negative daily candle questions the bull tone, whilst above 1.1079 we see a positive bias for Friday.

For Today:

We see an upside bias for 1.1318; break here aims for 1.1380, maybe 1.1467.

But below 1.1178 opens risk down to 1.1079, which we would look to try to hold.

Short/ Intermediate-term Outlook - Upside Risks:

We now see a more positive tone with the bullish threat to 1.1467.

Above here targets 1.1534 and 1.1680.

Overshoot risk is higher for 1.1871.

What Changes This? Below 1.0819 signals a neutral tone, only shifting negative below 1.0658.

 


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 

b2ap3_thumbnail_eur2_20150605-060659_1.png

Daily EURUSD Chart

b2ap3_thumbnail_eur1_20150605-060702_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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