Monday May 11, 2015 - 11:54:15 GMT
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Max McKegg's EURUSD Forecast
Max has kindly provided us with his outlook for the EURUSD. See whether Max is looking at the current 1.1390 top as the start of a reversal or just a correctoon before resumning a recovery towards the pivotal 1.15 level.
Today’s FX Currency Focus: EUR/USD
Since peaking at 1.1390 last Thursday, the Euro’s decline appears to be assuming a 3-wave corrective decline (rather than a major reversal). The mathematical Target for this short term decline is 1.1080/1.1050.
Exhaustion at the 1.1080/1.1050 area (likely in the first half of this week) would then enable the resumption of Euro’s broad corrective recovery from this year’s 1.0460 (March) low, extending beyond 1.1390 toward the 1.1480 and 1.1530 levels later this week (refer Daily chart below).
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Max McKegg24 Rama Crescent, Khandallah, Wellington 6035, New Zealand, Tel. 64-4-479-098
Email : [email protected]
Disclaimer: Max McKegg & Technical Research Ltd accept no liability whatsoever for any loss or damage that may result, directly or indirectly, from any forecast, comment or opinion, information or omission, whether negligent orotherwise, within this report.
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