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EUR/USD: A Bullish Shift Through 1.3965?

Published 05/08/2014, 03:52 AM
Updated 12/12/2023, 05:55 AM

EUR/USD solid advance through 1.3905 points to a more bullish shift

A narrow range, cautious tone Wednesday and as we stated in our last client report that “we still see a broad range environment, defined by 1.3965 and 1.3670, with a likely cap ahead of the 1.3965 peak before Thursday's ECB statement” .

However, the prior push through the 1.3905/10 resistance area has signalled a positive bias to the broader range theme

The mounting risk (maybe today), after a succession of higher lows and highs since early April, is for a bullish breakout (see below).

WHAT CHANGES THIS?

Upside: Above 1.3965 sees a bullish shift for 1.4000 and 1.4045..

Downside: Below the 1.3672 low is to a 1.3645 chart prop, maybe even for 1.3565/55.

Please see full report with levels and latest audio-visual analysis here:

Daily EUR/USD

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