creditsuisseEURUSD has been capped by the 23.6% retracement of the November drop and the falling 21-day average, and the sharp sell-off overnight has resulted in a marginal new cycle low.


Although the market has recovered off the lows, we stay bearish and look for a conclusive break in due course for a move to the 2015 low at 1.0458. Whilst we would allow for a fresh hold here, we favor an eventual break lower, which should then confirm a large bearish “triangle” continuation pattern and a resumption of the core downtrend for 1.0199/96.

Commentaries, trading setups and many more are provided by FxWatcher. Try out FxWatcher service for 5 days for free!

Resistance moves to 1.0626 initially, then 1.0685/90, which needs to cap to maintain the immediate downside bias. Above can see a recovery back to 1.0742/46.

eurusdh4Credit Suisse analytics strategy for today is to sell EUR/USD somewhere between 1.0625/75 with stop above 1.0695. Bank will add below 1.0455, for 1.0200.

Error, group does not exist! Check your syntax! (ID: 3)