RBS - The market calms but EUR/USD bullish bias remains

Royal Bank of Scotland - "Despite the sell off in the week commencing the 4th of February it still looks like from a longer term perspective that the bias is ultimately EUR positive, this is mainly from the inverse head and shoulders pattern as set out adjacent that’s target lies up at 1.4257 which is the spike higher from October ’11. Be aware of potential resistance at the important retracement level before then at 1.3835 and the annual high thus far at 1.3709 otherwise the target sits in the 1.40’s.There is also plenty of support to buy dips into should towards the important 1.3152 level with a stop loss below the neckline lows at 1.3000."

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Tags: EUR/USD, EURUSD, Euro Bullish Bias, RBS, Royal Bank of Scotland

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