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14 May 2015
EUR/USD might see a short dip – Kshitij
FXStreet (Barcelona) - Analysts at Kshitij Consultancy give the outlook for EUR/USD and further note that failing to break above 1.1407 resistance might lead the pair to see a short dip lower.
Key Quotes
“Euro shot up sharply after weak US Retail Sales and Euro GDP data negating a possible shoulder-head-shoulder formation.”
“1.1407 is an immediate resistance and if that holds we may see a short dip.”
“Overall a reversal seems to have begun on a very long term after the fall from May ’14 to Mar ‘15 but we need to keep watching as there are crucial resistances coming up in the mid-term.”
Key Quotes
“Euro shot up sharply after weak US Retail Sales and Euro GDP data negating a possible shoulder-head-shoulder formation.”
“1.1407 is an immediate resistance and if that holds we may see a short dip.”
“Overall a reversal seems to have begun on a very long term after the fall from May ’14 to Mar ‘15 but we need to keep watching as there are crucial resistances coming up in the mid-term.”