Technical targets for EURUSD, GBPUSD, AUDUSD and USDJPY

Discussion in 'Technical Analysis' started by ForexLive, Sep 19, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Tech targets from UOB courtesy of our friends at 19 Sept EUR/USD: Shift from neutral to bearish: Expect solid support at 1.1100. The unexpected sharp drop last Friday coupled the weak daily and weekly closing has shifted the outlook for EUR to bearish. That said, the price action seems to be similar to that in late August where the sharp decline in a single day extended lower but the down-move was quickly reversed a few days later. From here, we expect any weakness in EUR to encounter solid support at 1.1100. In order to maintain the current bearish momentum, any short-term rebound should not move above 1.1240 (1.1200 is already a strong shortterm resistance).

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