Zak Mir on Euro/Dollar, Euro/Sterling & Dollar/Yen

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By Zak Mir.

Key FX Crosses:


  • Euro very much alive despite “dead by the end of the year” threats since 2010.
  • U.S. shutdown a focus for bulls of single currency.
  • June rising trend channel based at 20 day moving average at $1.3617
  • Target towards 2013 resistance line projection as high as $1.44 by end of this year. 


  • Sterling perhaps a surprising short against Euro
  • Recent 50 day moving average cross through rising 200 day moving average could be run up to golden cross buy signal for November
  • Target as high as 89p by the end of this year if “golden” scenario pans out. 


  • Converging triangle formation on daily chart threatens one year revival.
  • May resistance at 50 day moving average level of 98.38 capping the price action.
  • Below 97 threatens a worst case scenario breakdown towards 90.
  • Perhaps 95 – 98 consolidation may eventually be winning scenario?

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