10 Mar 2015
EUR/USD: below 1.0750 targets 1.0730/25 – CharmerCharts
FXStreet (Barcelona) - Carol Harmer of CharmerCharts, gives the technical outlook and key targets for EUR/USD, anticipating a move below 1.0750 to lead to further weakness towards 1.0730/25 and then 1.0690.
Key Quotes
“We do look like the market will head to the 2003 lows of 1.0765....Now given that the market is drastically oversold this support should hold.”
“Difficult to buy into such a weak market, therefore only do it for a very short time on a correctionary basis only.”
“Below 1.0750 and we are out of longs, back into shorts looking for further weakness down to 1.0730/25 then 1.0690.”
“Today our daily pivot is at 1.0860 which so far has held the overnight high..Europe may well come in and re-test this resistance...Any long positions to be covered to here.”
Key Quotes
“We do look like the market will head to the 2003 lows of 1.0765....Now given that the market is drastically oversold this support should hold.”
“Difficult to buy into such a weak market, therefore only do it for a very short time on a correctionary basis only.”
“Below 1.0750 and we are out of longs, back into shorts looking for further weakness down to 1.0730/25 then 1.0690.”
“Today our daily pivot is at 1.0860 which so far has held the overnight high..Europe may well come in and re-test this resistance...Any long positions to be covered to here.”