EUR/USD Bearish Shift To A New 2014 Low
Steve Miley | Jul 23, 2014 03:14AM ET
EUR/USD aims for 1.3400 and 1.3375 targets next
We stated in our last client report that “whilst minimally capped by 1.3573/75, we see bias for a more bearish theme to target 1.3477, the 2014 low”.
We see negative pressures from the late Friday spike down through the 1.3503 low and previous break below firm support at 1.3575 for still further erosion this week.
We now see risk to chart and retrace supports at 1.3400 and 1.3375 respectively.
Overshoot threat is now to the 1.3295 spike low.
WHAT CHANGES THIS?
Above 1.3550 eases bear risks; through 1.3628 signals a neutral tone, only shifting positive above 1.3652.
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