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15 May 2015
EUR/USD eyeing higher levels after consolidation – AceTrader
FXStreet (Barcelona) - The AceTrader Team expects EUR/USD to consolidate before making a move higher towards 1.1450 and 1.15 levels.
Key Quotes
“Euro's rally above last Thursday's high of 1.1392 to a fresh near 3-month peak at 1.1445 yesterday signals erratic up move from March's 12-year trough at 1.0457 to retrace long-term downtrend has resumed and further gain to daily chart resistance at 1.1450 and then 1.1500 would be seen after consolidation.”
“On the downside, only a failure to penetrate 1.1445 and then move back below support at 1.1340/44 would indicate a temporary top is made and risk retracement towards 1.1279 (Tuesday high, now support) before rebound occurs.”
Key Quotes
“Euro's rally above last Thursday's high of 1.1392 to a fresh near 3-month peak at 1.1445 yesterday signals erratic up move from March's 12-year trough at 1.0457 to retrace long-term downtrend has resumed and further gain to daily chart resistance at 1.1450 and then 1.1500 would be seen after consolidation.”
“On the downside, only a failure to penetrate 1.1445 and then move back below support at 1.1340/44 would indicate a temporary top is made and risk retracement towards 1.1279 (Tuesday high, now support) before rebound occurs.”