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2 Mar 2015
EUR/USD eying 1.1100 and below – Vladimir Mihaylov
FXStreet (Barcelona) - Independent Analyst, Vladimir Mihaylov, notes that with technicals remaining bearish for the pair on all timeframes, a move towards 1.1100 and below might be near.
Key Quotes
“After last month's EUR pullback seems that the EU currency is ready to go south for another wave. The pair has lost 1.1200 level again and is currently trading below, with no signs for any upside for now. indicators on almost all timeframes are bearish which tells me that soon we are going to 1.1100 and below.”
“Daily resistance here is at 1.1350 and only above that we may hope for further recovery.”
“The pair is bearish below 1.1300 on Daily any price below this level will be used to open fresh SHORT positions. You should use 1.1350 as a reversal point and exit SHORT positions above it.”
“However we are approaching a huge negative Ichimoku on Daily frame which will continue to press the price level to the downside.”
Key Quotes
“After last month's EUR pullback seems that the EU currency is ready to go south for another wave. The pair has lost 1.1200 level again and is currently trading below, with no signs for any upside for now. indicators on almost all timeframes are bearish which tells me that soon we are going to 1.1100 and below.”
“Daily resistance here is at 1.1350 and only above that we may hope for further recovery.”
“The pair is bearish below 1.1300 on Daily any price below this level will be used to open fresh SHORT positions. You should use 1.1350 as a reversal point and exit SHORT positions above it.”
“However we are approaching a huge negative Ichimoku on Daily frame which will continue to press the price level to the downside.”