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EURUSD Positive Bias, but Only Whilst Above 1.3640

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EURUSD Positive Bias, but Only Whilst Above 1.3640

EURUSD Rebound Risk for 1.3730/35

  • We stated in our recent client reports that “we look for any corrective setback to try to hold support at 1.3640” and Wednesday has seen a grind lower, but still to hold this level.

  • We see a neutral tone into today’s ECB meeting and US Employment data, but whilst holding above 1.3640 see upside risks from the break above the 1.3675 failure peak and key chart/ retrace resistance at 1.3690.

  • Upside risk is through 1.3730/35 chart tops for 1.3750 and 1.3770/75.

  • Overshoot risk is higher to 1.3805 and maybe 1.3890 retrace targets.


  • Below 1.3640 eases bull risks; through 1.3575 signals a neutral tone, only shifting negative below 1.3503.

4 Hour EURUSD Chart


Daily EURUSD Chart


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Tagged in: 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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