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Eddie Tofpik of ADM Investor Services, shares the technical levels for EUR/USD, further viewing that might make further attempts lower.
Key Quotes
“Last month when I wrote my Longer Term View using as a minimum Weekly Charts I drew metaphorical line at saying anything lower that than the 1.0760 support. I will finesse & expand on that now - it is more like 1.0757 and it is the 2003 low.”
“This past month we have continued to break the back of EURUSD with sporadic lower lows untile we touched just below 1.1100! Since then we have recovered but it still looks weak and I would not be surprised to see further attempts lower - you would need to close consecutively over the resistance band 1.2120 - 1.2133 to just go into neutral at the moment!”
“Therefore support is currently at 1.1245, 1.1210, 1.1099, 1.0757, 1.0556, 1.0497 & 1.0331!”
“Resistance is at 1.1395, 1.1422, 1.1459, 1.1535, 1.1637, 1.1674 & 1.1753 -1.1781!”
Key Quotes
“Last month when I wrote my Longer Term View using as a minimum Weekly Charts I drew metaphorical line at saying anything lower that than the 1.0760 support. I will finesse & expand on that now - it is more like 1.0757 and it is the 2003 low.”
“This past month we have continued to break the back of EURUSD with sporadic lower lows untile we touched just below 1.1100! Since then we have recovered but it still looks weak and I would not be surprised to see further attempts lower - you would need to close consecutively over the resistance band 1.2120 - 1.2133 to just go into neutral at the moment!”
“Therefore support is currently at 1.1245, 1.1210, 1.1099, 1.0757, 1.0556, 1.0497 & 1.0331!”
“Resistance is at 1.1395, 1.1422, 1.1459, 1.1535, 1.1637, 1.1674 & 1.1753 -1.1781!”
