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14th May 2015 | Free Forex Analysis | EURUSD hunting the 1,1500 level


Dear Surfer friends;

Welcome to our usual daily analysis!!

How did it go yesterday?
We have said that the EURUSD may had planned to break the 1.1300 level. After having broken an important resistance trendline, it seems that now it has every intention to reach again the 1.1500 level.

Technical analysis

After breaking the trendline, the situation is delicate because the price has to confirm its wish to go north, probably chasing the 1,1500 level . The important rise from yesterday allowed the DP, among others that have not  been yet tested , to change its location in order to make the configuration DWM bullish.

Plan of the day

Our bias are  mainly bullish but it  is probable that the price will still want to retest the violated trendline.However, we are in an upward extension situation so we need to be caution. Moreover,  take into account that  European banks are closed in the afternoon and Mario Draghi will be giving a speech. Dangerous day today folks!
Rellevant economic news

All Day    EUR        French Bank Holiday

All Day    EUR        German Bank Holiday

2:30pm    USD    PPI m/m

USD    Unemployment Claims

5:00pm    EUR        ECB President Draghi Speaks

SurfingThePips staff wishes you a happy thursday!!

Daniele Angellotti

Certified Trader | SurfingThePips.com

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