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28 Jan 2015
EUR/USD: Still bearish below 1.1445, 1.1550 - 2ndSkies
FXStreet (Bali) - Chris Capre, Founder at 2ndSkies, notes how EURUSD has broken the first key resistance level at 1.1285, although he remains bearish, looking to short at resistance zones above.
Key Quotes
"As we suspected and wrote about yesterday in the members commentary, the Euro broke above the key resistance level at 1.1285, making a decent run up to just above 1.14 before pulling back."
"I'm still bearish below 1.1445 and 1.1550, so am looking to short at the resistance zone above. ST we have a range between 1.1285 and 1.1445. A break on either side sets the next direction up, but I'm suspecting the Euro will be sold on rallies by institutional players."
Key Quotes
"As we suspected and wrote about yesterday in the members commentary, the Euro broke above the key resistance level at 1.1285, making a decent run up to just above 1.14 before pulling back."
"I'm still bearish below 1.1445 and 1.1550, so am looking to short at the resistance zone above. ST we have a range between 1.1285 and 1.1445. A break on either side sets the next direction up, but I'm suspecting the Euro will be sold on rallies by institutional players."