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8 Jan 2015
EUR/USD might see a bounce towards 1.1880 – AceTrader
FXStreet (Barcelona) - The AceTrader Team anticipates EUR/USD to witness a rebound towards 1.1880 levels, with technicals supporting the upward correction.
Key Quotes
“Looking at the bigger picture, euro's early break of major sup at 1.1876 his was the reaction low made in 2010 fm euro's decline fm its record high of 1.6040 - post-Lehman top made in Jul 2008) confirms aforesaid LT downtrend fm 1.6040 to retrace the entire rise fm 0.8228 record low made in 2000 has resumed n price is en route twd 1.1212 in Q1, being the 'dynamic' 61.8% r of this move.”
“On the upside, only abv 1.2123 (Dec 30 low, now res) wud signal a temporary low is made, then risk is seen for a correction twd 1.2254 (Dec 25 high on Reuters).”
“Today, as y'day's 1.1802 low was accompanied by 'bullish convergences' on the hourly indicators, reckon 1.1775 (61.8% projection of 1.2187-1.1861 fm 1.1976) wud contain downside n yield minor correction. Therefore, we are buying on marginal fall in anticipation of a subsequent rebound to 1.1880. Abv 1.1896 (y'day's European high) signals temporary low is made n yield 1.1940/50.”
Key Quotes
“Looking at the bigger picture, euro's early break of major sup at 1.1876 his was the reaction low made in 2010 fm euro's decline fm its record high of 1.6040 - post-Lehman top made in Jul 2008) confirms aforesaid LT downtrend fm 1.6040 to retrace the entire rise fm 0.8228 record low made in 2000 has resumed n price is en route twd 1.1212 in Q1, being the 'dynamic' 61.8% r of this move.”
“On the upside, only abv 1.2123 (Dec 30 low, now res) wud signal a temporary low is made, then risk is seen for a correction twd 1.2254 (Dec 25 high on Reuters).”
“Today, as y'day's 1.1802 low was accompanied by 'bullish convergences' on the hourly indicators, reckon 1.1775 (61.8% projection of 1.2187-1.1861 fm 1.1976) wud contain downside n yield minor correction. Therefore, we are buying on marginal fall in anticipation of a subsequent rebound to 1.1880. Abv 1.1896 (y'day's European high) signals temporary low is made n yield 1.1940/50.”