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17 Feb 2014
Flash: EUR/USD building case for further gains - 2ndSkies
FXStreet (Bali) - EURUSD is building a case for more upside, according to Chris Capre, Founder at 2ndSkies Forex.
Key Quotes
"Last Sunday in our weekly forex price action outlook, we suggested after the false break, and failure to attack the range lows, the Euro was building a case for more upside. As suggested, the Euro has made further gains on the week, pressing up against the key resistance zone around 1.37/3720 area."
"A daily close above 1.3720 suggests the pair is working towards an attack on the swing highs around 1.3810/20. Short term we remain bullish if we can clear 1.3700. Bears can watch for intra-day corrective price action heading into 1.3820 to short the pair. If it shows aggression heading into the level, then watch for a breakout pullback setup above to get long."
Key Quotes
"Last Sunday in our weekly forex price action outlook, we suggested after the false break, and failure to attack the range lows, the Euro was building a case for more upside. As suggested, the Euro has made further gains on the week, pressing up against the key resistance zone around 1.37/3720 area."
"A daily close above 1.3720 suggests the pair is working towards an attack on the swing highs around 1.3810/20. Short term we remain bullish if we can clear 1.3700. Bears can watch for intra-day corrective price action heading into 1.3820 to short the pair. If it shows aggression heading into the level, then watch for a breakout pullback setup above to get long."