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19 Mar 2015
EUR/USD to eventually return to lower levels - FXCharts
FXStreet (Bali) - Jim Langlands, Founder at FXCharts, shares his view on the EUR/USD, noting that the pair should eventually return to lower levels.
Key Quotes
"The longer term outlook remains unchanged in that I think the dollar will eventually return to higher levels where the support is now seen at 1.0700 and then at the 200 HMA at 1.0660. Below here would head back to 1.0600 and to the good area of support that has underpinned the Euro ahead of 1.0500."
"In the short term, expect some more covering of long dollar positions, but there will be plenty of interest to sell into further Euro strength and longer term traders will be able to take advantage of this rally."
Key Quotes
"The longer term outlook remains unchanged in that I think the dollar will eventually return to higher levels where the support is now seen at 1.0700 and then at the 200 HMA at 1.0660. Below here would head back to 1.0600 and to the good area of support that has underpinned the Euro ahead of 1.0500."
"In the short term, expect some more covering of long dollar positions, but there will be plenty of interest to sell into further Euro strength and longer term traders will be able to take advantage of this rally."