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EURUSD Consolidation Tone before Bear Risks Resurface

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EURUSD Consolidation Tone before Bear Risks Resurface

A strong rebound Friday to reinforce the aggressive rally post FOMC, and reject the sell off Thursday, but still capped by firm barriers up at 1.1125 and 1.1249.

We now see bias for an erratic consolidation theme early this week, but whilst below these resistances, we would look for a bear trend resumption into April.

For Today: We see a neutral tone between 1.0919 and 1.0754.

  • Break above 1.0919 aims for 1.1036.
  • Break below 1.0754 aims for 1.0656.

 

A taster of the report above. To view the full EURUSD report with screencasts, levels and more, click here
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1 Hour EURUSD Chart

b2ap3_thumbnail_EURUSD2_20150323-062721_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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