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Our EURUSD Parity View for H1 2015 Reinforced into #ECB

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Our EURUSD Parity View for H1 2015 Reinforced into #ECB

Another plunge lower to reinforce bear pressures from the the latter February downside range breakout through support at 1.1279/70 for a bearish trend continuation for March.

The break below the January cycle low at 1.1098 places EURUSD at an 11 year low and sees downside risks for this week, for March and into Q2.

Short-term Downside Risks:

  • For mid-March we now see risk back to the psychological and option target at 1.1000.
  • For March, the risk is still maybe as low as the September 2003 key swing low at 1.0765.
  • Overshoot threat for  the month is to 1.0503, the March 2003 swing low.

Longer-term - Downside Risks: As we have stated since last year, for 2015 (H1?), the threat is to PARITY and just below, .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
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Monthly EURUSD Chart


4 Hour EURUSD Chart


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Tagged in: ECB EUR Euro EURUSD 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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