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22 May 2015
FX outlook: EUR/USD downside bias for 1.1030/60 – Littlefish FX
FXStreet (Barcelona) - Analysts at Littlefish FX, give the outlook for FX majors, maintaining a bearish view on EUR/USD and bullish on USD/JPY.
Key Quotes
“EUR/USD: Bids towards 1.1030/60 continue to support expect .1240/60 to cap upside for a second leg of corrective action to ensue for a test of the base at 1.10”
“GBP/USD: Ascending trendline support at the 1.55 sets potential base for 1.60 attempt, failure here opens 1.5350 before higher”
“USD/JPY: While 120.00 supports intraday pullbacks bulls target a break of 122 en route to 124 target. Below 119.50 concerns near term bullish bias.”
“USD/CAD: Descending trendline resistance at 123 arrest the upside advance while this area contains the bulls potential to retest the pivotal 120 level.A break of 123 target pivotal 124.50”
“AUD/USD: While .7850 supports downside reactions expect a break of .82 en route to test offers at .83, below .78 invalidates bullish bias and bears target .77 initially.”
Key Quotes
“EUR/USD: Bids towards 1.1030/60 continue to support expect .1240/60 to cap upside for a second leg of corrective action to ensue for a test of the base at 1.10”
“GBP/USD: Ascending trendline support at the 1.55 sets potential base for 1.60 attempt, failure here opens 1.5350 before higher”
“USD/JPY: While 120.00 supports intraday pullbacks bulls target a break of 122 en route to 124 target. Below 119.50 concerns near term bullish bias.”
“USD/CAD: Descending trendline resistance at 123 arrest the upside advance while this area contains the bulls potential to retest the pivotal 120 level.A break of 123 target pivotal 124.50”
“AUD/USD: While .7850 supports downside reactions expect a break of .82 en route to test offers at .83, below .78 invalidates bullish bias and bears target .77 initially.”