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2 Mar 2015
EUR/USD key support at 1.0750 – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team shares the outlook and key levels for EUR/USD using monthly charts.
Key Quotes
“From a long term perspective, the EURUSD is immersed in a downtrend channel initiated with the highs of 2007. Since then, the euro has been losing a great part of its value, especially in the last 10 months, moving from 1.39 dollars per euro to the current quote of 1.1170, which means around 20% of decline.”
“At the moment the trend is bearish in all time frames, identifying as the most significant support, the level of 1.0750.”
“Over the current price, the 1.1770 and 1.2118 are important resistances to consider in case of an eventual change of the trend.”
Key Quotes
“From a long term perspective, the EURUSD is immersed in a downtrend channel initiated with the highs of 2007. Since then, the euro has been losing a great part of its value, especially in the last 10 months, moving from 1.39 dollars per euro to the current quote of 1.1170, which means around 20% of decline.”
“At the moment the trend is bearish in all time frames, identifying as the most significant support, the level of 1.0750.”
“Over the current price, the 1.1770 and 1.2118 are important resistances to consider in case of an eventual change of the trend.”