19 Jan 2015
Credit Suisse: EUR/USD might move towards 1.1215 – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares Credit Suisse’s technical strategy for the EUR/USD pair, with CS having a bearish view for the pair and targeting 1.1215 levels.
Key Quotes
“The collapse below the 1.1641 2005 low maintains the large top for 1.1212 next, ahead of our 1.0836/0765 core target.”
“EURUSD collapsed aggressively removing the 2005 low at 1.1641. This reinforces our bearish stance following the completion of a multi-year top and turns attention next to 1.1446 next, then 1.1381, the November 2003 low, ahead of the 61.8% retracement of the 2000/08 rise at 1.1212 next. We allow for a bounce here, but our core target remains lower at 1.0836/0765.”
“Near-term resistance shows at 1.1684, then 1.1728/43. Above here can ease the immediate bias for a recovery back to 1.1794, potentially 1.1841.”
“CS runs a limit order to sell EUR/USD at 1.17 targeting 1.1215.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The collapse below the 1.1641 2005 low maintains the large top for 1.1212 next, ahead of our 1.0836/0765 core target.”
“EURUSD collapsed aggressively removing the 2005 low at 1.1641. This reinforces our bearish stance following the completion of a multi-year top and turns attention next to 1.1446 next, then 1.1381, the November 2003 low, ahead of the 61.8% retracement of the 2000/08 rise at 1.1212 next. We allow for a bounce here, but our core target remains lower at 1.0836/0765.”
“Near-term resistance shows at 1.1684, then 1.1728/43. Above here can ease the immediate bias for a recovery back to 1.1794, potentially 1.1841.”
“CS runs a limit order to sell EUR/USD at 1.17 targeting 1.1215.”
This content has been provided under specific arrangement with eFXnews.