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5 Jan 2015
EUR/USD might retest 1.20 levels – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, anticipates the EUR/USD pair to retest 1.20 levels if the pair holds above 1.1932 – 1.1927 price zone.
Key Quotes
“A re-test of 1.2 levels is likely if the pair manages to sustain above 1.1932 (May 2003 high) and 1.1927 (June 2003 high) levels.”
“On a shorter time frame – 15 minute chart – the RSI and the price has formed a bullish divergence, which has increased the probability of a re-test of 1.1975 and 1.2 levels.”
“On the other hand, a break below 1.1922, shall see a renewed selling pressure towards 1.1875 (June 2010 low) and 1.1849 (76.4% retracement level of Apr 03 – Jul 08 uptrend).”
Key Quotes
“A re-test of 1.2 levels is likely if the pair manages to sustain above 1.1932 (May 2003 high) and 1.1927 (June 2003 high) levels.”
“On a shorter time frame – 15 minute chart – the RSI and the price has formed a bullish divergence, which has increased the probability of a re-test of 1.1975 and 1.2 levels.”
“On the other hand, a break below 1.1922, shall see a renewed selling pressure towards 1.1875 (June 2010 low) and 1.1849 (76.4% retracement level of Apr 03 – Jul 08 uptrend).”