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5 Dec 2014
EURUSD - Potential False Break Setup - 2ndSkies
FXStreet (Bali) - According to Chris Capre, Founder at 2ndSkies, if 1.2375/60 support holds, it suggests a false break setup with 1.2450 and 1.2500 potential targets.
Key Quotes
"Getting a spark of volatility from the ECB meeting and Draghi speech today, the Euro jumped about 150 pips within a few hours before finding sellers around 1.2450. The pair ended up settling back down at the key role reversal level we've talked about prior at 1.2375/60."
"If this level holds, then we have a false break setup and the pair should first attack 1.2450 and 1.2500. If this level folds, then we should see a second attack on 1.23."
Key Quotes
"Getting a spark of volatility from the ECB meeting and Draghi speech today, the Euro jumped about 150 pips within a few hours before finding sellers around 1.2450. The pair ended up settling back down at the key role reversal level we've talked about prior at 1.2375/60."
"If this level holds, then we have a false break setup and the pair should first attack 1.2450 and 1.2500. If this level folds, then we should see a second attack on 1.23."