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EURUSD Decision Time!!!

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EURUSD Decision Time!!!

Another recovery effort after the strong rally efforts over the past week, but yet another stall at the peak from the post-FOMC rally at 1.1036, back from 1.1015 this tome, again rejecting a neutral shift to leave bias back to the downside.

We still see an erratic consolidation theme this week (likely contained within last Wednesday's range all this week) with a negative bias and whilst below 1.1036 we would look for a bear trend resumption into April.

For Today:

  • We see a downside bias through the trend line (1.0960) for 1.0890/82; break here aims for the lower trend line (1.0790), maybe 1.0767/54.
  • But above 1.1015 opens risk up to 1.1029/36, which we would again look to try to cap. Break aims for 1.1065. 

 

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

b2ap3_thumbnail_EURUSD2_20150326-062759_1.png

 

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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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