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13 Mar 2015
EUR/USD sellers below 1.0562 – CharmerCharts
FXStreet (Barcelona) - Carol Harmer of CharmerCharts, views that risks exist for a further correction into next week towards 1.0725, but selling interest might surge if the pair breaks below 1.0562.
Key Quotes
“Euros recovered off 1.0495 and went to 10684...Now we are back lower this morning, but the med term charts are looking to turn...leaving us looking for further correction going into next week.”
“The first med term fib is located at 1.0725 and if we can reach that we should see profit taking.”
“Buyers will come back into the market if we can break and hold above this resistance..we would then be looking for 1.0863 as a viable short term target”
“Now the downside is that we break 1.0562...If we break below here then sellers will gain control once more and they would be looking to drive the market lower for 1.0475/65.”
“Cover shorts to here...Only re-instate further shorts if the market makes a break below 1.0450....Below here and 1.0399 is targeted.”
Key Quotes
“Euros recovered off 1.0495 and went to 10684...Now we are back lower this morning, but the med term charts are looking to turn...leaving us looking for further correction going into next week.”
“The first med term fib is located at 1.0725 and if we can reach that we should see profit taking.”
“Buyers will come back into the market if we can break and hold above this resistance..we would then be looking for 1.0863 as a viable short term target”
“Now the downside is that we break 1.0562...If we break below here then sellers will gain control once more and they would be looking to drive the market lower for 1.0475/65.”
“Cover shorts to here...Only re-instate further shorts if the market makes a break below 1.0450....Below here and 1.0399 is targeted.”