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EUR/USD Classical Technical Report 02.15

EUR/USD Classical Technical Report 02.15

Joel Kruger, Technical Strategist
Daily_Classical_EURUSD_body_eur.png, EUR/USD Classical Technical Report 02.15

EUR/USD: Remains locked in a choppy consolidation with the market now needing a break back above 1.3325 or below 1.3025 for clearer directional bias. Overall, our core outlook remains bearish and we are on the lookout for the formation of a fresh medium-term lower top ahead of underlying bear trend resumption off of the 2008 record highs. At this point, we are sidelined but would not rule out the possibility for a move towards 1.3500 before gains eventually stall.

--- Written by Joel Kruger, Technical Currency Strategist

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.