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15 Dec 2014
EUR/USD may continue to range-trade into year-end – Vladimir Mihaylov
FXStreet (Barcelona) - Vladimir Mihaylov, Independent Analyst, expects EUR/USD to continue to range-trade with a bearish tone through year-end.
Key Quotes
“EUR is moving in a range since the end of last week between 1.2400 and 1.2485. Of course range is pretty wide and allows to use the strategy buy at the bottom and sell at the top as we have a strong resistance above 1.2500. I expect range trade to continue with bearish tone, i am not optimistic about the EUR recovery till the end of this month and year. Christmas is coming in 10 days and we may see a partly profit taking ahead of the holiday. Here are the resistance and support levels for this week: first resistance comes at 1.2510, then 1.2540 and finally 1.2590, first support is 1.2420, then 1.2390 and finally 1.2370, below the last bears will push the price below 1.2300.”
Key Quotes
“EUR is moving in a range since the end of last week between 1.2400 and 1.2485. Of course range is pretty wide and allows to use the strategy buy at the bottom and sell at the top as we have a strong resistance above 1.2500. I expect range trade to continue with bearish tone, i am not optimistic about the EUR recovery till the end of this month and year. Christmas is coming in 10 days and we may see a partly profit taking ahead of the holiday. Here are the resistance and support levels for this week: first resistance comes at 1.2510, then 1.2540 and finally 1.2590, first support is 1.2420, then 1.2390 and finally 1.2370, below the last bears will push the price below 1.2300.”