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22 Apr 2015
EUR/USD to move lower after hitting short-term resistance – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, anticipates a EUR/USD move lower towards 1.0655 levels after facing rejection around 1.0800 area.
Key Quotes
“Most of the USD pairs are mixed, but sideways, so mostly our views did not change. We still think that the buck is in big correction against the other currencies which are expected to weaken over the coming days.”
“On EURUSD we see price in the middle of a big triangle, currently with bearish view for wave C) down in (D). Resistance on short-term charts comes in around 1.0800 which should hold today. If price will go higher than that then we will look for wave X) low at 1.0655.”
Key Quotes
“Most of the USD pairs are mixed, but sideways, so mostly our views did not change. We still think that the buck is in big correction against the other currencies which are expected to weaken over the coming days.”
“On EURUSD we see price in the middle of a big triangle, currently with bearish view for wave C) down in (D). Resistance on short-term charts comes in around 1.0800 which should hold today. If price will go higher than that then we will look for wave X) low at 1.0655.”