EUR/USD Top Intact, Below 1.3680/85 For A Bear Bias
Steve Miley | Feb 10, 2014 03:54AM ET
EUR/USD top intact whilst below 1.3680/85 for a bear bias
A nudge higher Friday after the mini bullish outside Thursday pattern, but still capped by firm topping barriers at 1.3680/85.
Whilst below here, we see the 2014 top as very much intact after the late Jan push through the 1.3508 swing low.
We now look for a roll back lower to the bounce range from ahead of 1.3680/85 to modest props at 1.3555 and 1.3495.
However, we still see bear risk to 1.3400 into mid-Feb
Overshoot risk for Feb is still the 50% retrace and key Q4 swing low 1.3325/ 1.3295.
WHAT CHANGES THIS?
Above 1.3685 eases bear risks; through 1.3775 signals a neutral tone, only shifting positive above 1.3820.
Please see full report with levels and latest audio-visual analysis here :
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