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Our EURUSD Bear Bias Reinforced

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Our EURUSD Bear Bias Reinforced

A still more bearish tone Thursday and we have stated in our recent reports to clients that "we see bias for a roll lower into the March range for key support at 1.0713".  

The break below this key support level has reinforced the previous setback from 1.1036 and the March bearish outside pattern back from 1.1053 for a more bearish theme for April.

For Today:

We see a downside bias for 1.0637 and 1.0613; break here aims for key support at 1.0590/79 and 1.0550, maybe even 1.0495, which we would look to try to holds at first.

But above 1.0729 opens risk up to 1.0789, which we would look to try to cap.

Short-/Intermediate-term Outlook - Downside Risks:

Into April we see bias for a further roll back lower to the range, for 1.0613.

Then for a retest of the recent 1.0462 cycle low.

As we have stated since last year, for 2015 (Q2?), the threat is to PARITY and just below here, .9900, the 78.6% retrace of the entire 2000-2008 bull rally.

A taster of the report above. To view the full EURUSD report with screencasts, levels and more, click here
Remember, for a FREE trial of our FX and all other reports, sign up by clicking here

4 Hour EURUSD Chart

b2ap3_thumbnail_EURUSD2_20150410-053206_1.png

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Tagged in: EUR 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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