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26 Jan 2015
EUR/USD: Potentially down to parity - 2ndSkies
FXStreet (Bali) - EUR/USD is likely to get even more bearish with news that Syriza has won the Greek election, notes Chris Capre, Founder at 2ndSkies Forex, adding that a move to parity later on the year should not be ruled out.
Key Quotes
"On the heels of the anti-euro/austerity party winning the vote in Greece, the Euro was already under massive pressure post ECB QE announcement. The pair has lost ground for 6 weeks in a row, and our sell trade setup at 1.1645 worked and profited nicely."
"For now, we have a short term range between 1.1289 and the yearly lows just above 1.11. There is also a second resistance zone between 1.1445 and 1.1545."
"I'll look to sell into resistance, with an anticipated move down to 1.10, 1.07 and potentially down to parity. Only a daily close above 1.1650 negates the bearish trend MT."
Key Quotes
"On the heels of the anti-euro/austerity party winning the vote in Greece, the Euro was already under massive pressure post ECB QE announcement. The pair has lost ground for 6 weeks in a row, and our sell trade setup at 1.1645 worked and profited nicely."
"For now, we have a short term range between 1.1289 and the yearly lows just above 1.11. There is also a second resistance zone between 1.1445 and 1.1545."
"I'll look to sell into resistance, with an anticipated move down to 1.10, 1.07 and potentially down to parity. Only a daily close above 1.1650 negates the bearish trend MT."