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EUR/USD Risk To 1.3711

Published 09/20/2013, 03:04 AM
Updated 12/12/2023, 05:55 AM

EURUSD risk to 1.3711 this week and 1.3835 into next

  • An aggressive rally post FOMC has allowed for a surge through the August peak at 1.3450 and next target at the 78.65 retrace of the 2013 erosion (1.3505) and a modest failure peak from, Feb this year at 1.3520.
  • The resilient holding pattern through Asian hours leaves risk still higher today, and into next week to next target chart level at 1.3600 and potentially back to the cycle high at 1.3711.
  • Moreover, overshoot risk is the 61.8% retrace of the 2011-12 sell off at 1.3835.
  • The 8-day RSI, short-term momentum is positive, but not OB, leaving scope to go still higher this week.

WHAT CHANGES THIS?

  • Only below 1.3410 eased bull risk, back to neutral through 1.3325.

Please see latest audio-visual analysis here:
Daily EURUSD

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