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14 May 2015
EUR/USD likely to test 1.1293 levels – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, EUR/USD sees a potential head and shoulder pattern and might test 1.1293 levels.
Key Quotes
“At the moment, the pair is trading at 1.1361 levels, with the hourly RSI turning lower from the overbought zone. The 4-hour chart clearly shows the possible head and shoulder formation, if the resistance at 1.1390 remains in place.”
“The pair appears likely to test 1.1293 (23.6% Fib retracement of 1.3991-1.0461).”
“On the upside, 1.1390 should act as a strong resistance. An intraday upside could be extended to 1.1420-1.1450, however, a daily close above 1.1390 is essential to confirm further gains in the pair.”
Key Quotes
“At the moment, the pair is trading at 1.1361 levels, with the hourly RSI turning lower from the overbought zone. The 4-hour chart clearly shows the possible head and shoulder formation, if the resistance at 1.1390 remains in place.”
“The pair appears likely to test 1.1293 (23.6% Fib retracement of 1.3991-1.0461).”
“On the upside, 1.1390 should act as a strong resistance. An intraday upside could be extended to 1.1420-1.1450, however, a daily close above 1.1390 is essential to confirm further gains in the pair.”