EUR/USD: Bearish Momentum Continues
Second Skies | Mar 11, 2015 01:36AM ET
EUR/USD –
Declining for 24hrs (6 x 4hr candles), the Euro lost another handle today, two actually, knocking off 1.08 and 1.07 on the list down to parity. This means we have to lower our volatile pullback/trend change ).
The key pullback resistance levels for me are 1.0825 and 1.0985/1.10. Only until we get a daily close above the latter would this change my bearish bias ST & MT. Downside targets are 1.0530/50 and potentially a return to parity, but I suspect a decent bounce would happen before we touch parity. Regardless, I think parity is likely this year.
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