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EURUSD Resilient Above 1.2705 Support; Bull Bias through 1.2888

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EURUSD Resilient Above 1.2705 Support; Bull Bias through 1.2888

EURUSD positive tone and resistance threats

·         A resilient digestion theme late last week, above minor support at 1.2705 and better foundation a 1.2624 to leave upside pressures intact early this week.

·         The strong midweek rally through 1.2792 and the developing October recovery up trend points to a more bullish theme.

·         We still see upside targets into the 2nd half of October higher, into midweek for 1.2902 and 1.2930 next.

·         Overshoot risk is through 1.2995 for a stronger base to aims for 1.3160.

·         We see support holding today at 1.2705 likely 1.2735.


·         Below 1.2705 eases bull risks; through 1.2624 signals a neutral tone, only shifting negative below 1.2583.

Download our full report with latest screencast & levels here:

4 Hour EURUSD Chart



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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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