Daily Forecast - 15 September 2014
EURUSD
EURUSD held by first resistance at 1.2870/75 early morning before bottoming at 1.2814. Outlook remains negative but the pair are short term oversold so a small recovery possible to first resistance at 1.2870/75. If we manage a break higher today look for a selling opportunity at 1.2905/10, with stops above 1.2930.
Below 1.2840 adds pressure for a retest of yesterday's low at 1.2814. *On a break lower we meet excellent longer term support at 1.2790/85.* We have been in a bear trend since May & this support is strong enough to trigger a significant recovery so exit shorts & try longs with stops below 1.2750.
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