EUR/USD: A Bullish Shift Through 1.3965?
Steve Miley | May 08, 2014 03:52AM ET
EUR/USD solid advance through 1.3905 points to a more bullish shift
A narrow range, cautious tone Wednesday and as we stated in our last client report that “we still see a broad range environment, defined by 1.3965 and 1.3670, with a likely cap ahead of the 1.3965 peak before Thursday's ECB statement” .
However, the prior push through the 1.3905/10 resistance area has signalled a positive bias to the broader range theme
The mounting risk (maybe today), after a succession of higher lows and highs since early April, is for a bullish breakout (see below).
WHAT CHANGES THIS?
Upside: Above 1.3965 sees a bullish shift for 1.4000 and 1.4045..
Downside: Below the 1.3672 low is to a 1.3645 chart prop, maybe even for 1.3565/55.
Please see full report with levels and latest audio-visual analysis here :
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