Euro Still Weak After Stall At Flagged 1.3680/85 Barriers

| Charts | Wednesday, February 12, 2014 |

EURUSD topping structure leaves setback risk towards 1.3555 and 1.3495

· A head fake rally and setback Tuesday, as we have continued to flag, stalling at and capped by firm topping barriers at 1.3680/85.

· Whilst below here, we see the 2014 top as very much intact after the late Jan push through the 1.3508 swing low.

· We now look for a roll back lower to the bounce range from ahead of 1.3680/85 to modest props at 1.3555 and 1.3495.

· However, we still see bear risk to 1.3400 through mid-Feb

· Overshoot risk for Feb is still the 50% retrace and key Q4 swing low 1.3325/ 1.3295.

WHAT CHANGES THIS?

· Above 1.3685 eases bear risks; through 1.3775 signals a neutral tone, only shifting positive above 1.3820.

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image001 Euro Still Weak After Stall At Flagged 1.3680/85 Barriers

steve miley 150x150 Euro Still Weak After Stall At Flagged 1.3680/85 Barriers Steve Miley (87 Posts)

Steve Miley, the Market Chartist brings 22 years of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He is the current winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy 2013 and was the winner of Best FX Research & Strategy 2012. Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

He has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including central banks, real money accounts, hedge funds and other financial institutions.




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