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15 Dec 2014
EUR/USD bull bias – MarketChartist
FXStreet (Barcelona) - Steve Miley of MarketChartist sees an upside bias to the EUR/USD range-trade with skewed risk of a push through 1.2532 for a bullish shift.
Key Quotes
“The previous rally last week from a new cycle low, through the November & October trend lines and 1.2457 peak saw a shift to a range theme. We still see an upside bias to the range and skewed risk of a push through 1.2532 for a bullish shift.”
“We see the range defined by 1.2532 and 1.2289”
“For today, we see an upside bias back for 1.2496 and 1.2532; break here aims for 1.2550, 1.2570/76, maybe even 1.2600. But below 1.2425 aims for 1.2384 and opens risk back down to 1.2369/62”
Key Quotes
“The previous rally last week from a new cycle low, through the November & October trend lines and 1.2457 peak saw a shift to a range theme. We still see an upside bias to the range and skewed risk of a push through 1.2532 for a bullish shift.”
“We see the range defined by 1.2532 and 1.2289”
“For today, we see an upside bias back for 1.2496 and 1.2532; break here aims for 1.2550, 1.2570/76, maybe even 1.2600. But below 1.2425 aims for 1.2384 and opens risk back down to 1.2369/62”