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14 Jan 2015
EURUSD - Breakout setup of 1.1750 soon - 2ndSkies
FXStreet (Bali) - Chris Capre, Founder at 2ndSkies Forex, expects the Euro to confirm a breakout of support around 1.1750 soon.
Key Quotes
"As we've been writing in our prior commentaries, the Euro is in a bear trend and selling at resistance has been the suggested way to trade this pair."
"Today the Euro continues to attack the ST support around 1.1750 with weak bounces off the level, suggesting a likely breakout setup soon."
"If the key support level breaks before we get a decent rally to short, then look for a breakout pullback setup. Downside targets are 1.1650 and 1.15, with the potential for a move down to 1.10 and 1.0750."
Key Quotes
"As we've been writing in our prior commentaries, the Euro is in a bear trend and selling at resistance has been the suggested way to trade this pair."
"Today the Euro continues to attack the ST support around 1.1750 with weak bounces off the level, suggesting a likely breakout setup soon."
"If the key support level breaks before we get a decent rally to short, then look for a breakout pullback setup. Downside targets are 1.1650 and 1.15, with the potential for a move down to 1.10 and 1.0750."