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EURUSD Still Targets PARITY and .9900 Through Late March

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EURUSD Still Targets PARITY and .9900 Through Late March

Despite a bounce effort through 1.0585, we looked for 1.0635 to cap Monday and the stall ahead of here, maintains the short-intermediate term bear theme.

Another new cycle low to end the week,after the previous breach of 1.0503, the March 2003 swing low, having only recently surrendered the September 2003 key swing low at 1.0765, sees further bearish risk into March.

Short-term Downside Risks:

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

 

For Today: 

  • We see a downside bias for 1.0495 and 1.0462; break here aims for 1.0405, maybe 1.0375.
  • But above 1.0635 (which we still look to cap) aims for 1.0684, maybe 1.0717, which we would then look to cap.
 
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

Monthly EURUSD Chart

b2ap3_thumbnail_EURUSD1_20150317-064058_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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