Home EUR/USD: Watching The Decisive T-Junction At 1.0962/55 – JP
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EUR/USD: Watching The Decisive T-Junction At 1.0962/55 – JP

What’s next for EUR/UD after  the not-so-strong blow it received from the Greek referendum?

The team at JP Morgan analyzes the charts:

Here is their view, courtesy of eFXnews:

EUR/USD latest sell-off at this week’s market opening brought the key-support cluster at 1.0962/55 (minor 76.4 %/pivot) back into focus, notes JP Morgan.

Below, 1.0962/55 remains at risk, which is the decisive T-junction to distinguish between a temporary set back only and a deeper one to the next T-zone between 1.0744 an 1.0698 (int. 76.4 % on higher scale/daily trend),” JPM argues.

Above 1.0955 though, the start window for a stronger recovery to 1.1699/1.1811 (int. 38.2 %) remains open,” JPM adds.

To confirm the latter view, according to JPM, it would take another successful defense of the 1.0955 support via breaks above 1.1092 and 1.1159 (hourly trends).

 

Policy outlook to cap EUR 5 day performance vs USD

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.