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11 May 2015
EUR/USD might weaken towards 1.1122 – AceTrader
FXStreet (Barcelona) - EUR/USD break below the 1.1179 low suggests a move towards 1.1122 might be expected, but 1.1062 will cap further losses, notes the AceTrader team.
Key Quotes
“Despite Friday's volatile trading in New York session after in-line U.S. payrolls data, euro's intra-day break of Friday's 1.1179 low in Asia this morning due to euro-bearish news over the weekend confirms decline from last Thursday's 10-week peak at 1.1392 to correct recent strong up move has once again resumed and weakness towards 1.1122 is envisaged, reckon 1.1062 (previous res, now sup) would remain intact and yield rebound later this week.”
“Expect 1.1228/37 area to cap intra-day recovery and yield aforesaid fall, only above there signals 1st leg of correction is over but 1.1290 (Friday's New York high) should hold from here.”
Key Quotes
“Despite Friday's volatile trading in New York session after in-line U.S. payrolls data, euro's intra-day break of Friday's 1.1179 low in Asia this morning due to euro-bearish news over the weekend confirms decline from last Thursday's 10-week peak at 1.1392 to correct recent strong up move has once again resumed and weakness towards 1.1122 is envisaged, reckon 1.1062 (previous res, now sup) would remain intact and yield rebound later this week.”
“Expect 1.1228/37 area to cap intra-day recovery and yield aforesaid fall, only above there signals 1st leg of correction is over but 1.1290 (Friday's New York high) should hold from here.”