EUR/USD: First Resistance At 1.1320/25
Jason Sen | Sep 21, 2015 06:36AM ET
First resistance for the EUR/USD pair is at 1.1320/25 and holding below here keeps the outlook negative. A break above 1.1340 triggers a recovery to 1.1370/75. Try shorts with stops at 1.1390. Be ready to buy a break above 1.1400 to target 1.1460/70 for an excellent selling opportunity once again.
Failure to beat resistance at 1.1320/25 keeps the pressure on for 1.1274/72, then minor support at 1.1260/55. If we continue lower look for better support at 1.1235/30. This is the best chance of a low for the day, but longs need stops below 1.1210. Be ready to sell a break below 1.1200 to target 1.1170/65.
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