EUR/USD: Poised At Critical Barrier
Steve Miley | Oct 27, 2013 03:18AM ET
- EUR/USD poised at critical barrier at 1.3835; above target 1.4000
- A firm, but cautious upsides follow-through of the robust extension through 1.3711, the 2013 peak and this has now shifted the threat to our repeatedly flagged 61.8% retrace target of the 2011-12 sell off at 1.3835 and 1.4000 psychological level”.
- Moreover, the Sept-Oct sideways activity has set a base for potential still higher into Nov to a 2011 peak, 1.4246.
- The 8-day RSI has scope to go still higher into this week and next.
- Below 1.3650 eases bull risk, through 1.3480 to neutral; below 1.3450 shifts the bias negative.
WHAT CHANGES THIS?
Please see latest audio-visual analysis here :
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.