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22 May 2015
EUR/USD set to continue towards lower levels – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast believes that the euro is set to keep diving lower against the dollar, expecting a close below 1.1060 to likely be the trigger.
Key Quotes
“USD is up across the board after better than expected US Core CPI figures. EURUSD is at the lows after it found resistance close to 1.2120 resistance that we highlighted it this morning. We see pair breaking sharply lower, so more weakness could follow in sessions ahead. However, we need to be aware some pullback as well as Draghi and Yellen speaks later today so market can remain volatile. A daily close beneath 1.1060 today will definitely stay bearish for the pair.”
Key Quotes
“USD is up across the board after better than expected US Core CPI figures. EURUSD is at the lows after it found resistance close to 1.2120 resistance that we highlighted it this morning. We see pair breaking sharply lower, so more weakness could follow in sessions ahead. However, we need to be aware some pullback as well as Draghi and Yellen speaks later today so market can remain volatile. A daily close beneath 1.1060 today will definitely stay bearish for the pair.”