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7 Jan 2015
EUR/USD sees no relief, 1.800 next – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares that the EUR/USD pair has been weighted by soft Euro data, further anticipating the bearish tone to lead the pair towards 1.800 levels if the pair breaks below 1.8400.
Key Quotes
“The EUR/USD pair sees no relief this Wednesday, weighted by European data.”
“Technically, the 4 hours chart shows that the bearish tone still dominates the pair, as per the price developing below a bearish 20 SMA and momentum indicator heading lower below 100. RSI remains below 30 with no signs of an upcoming upward correction.”
“Market movements may remain slow ahead of FOMC Minutes later in the American afternoon, particularly if stocks maintain the positive tone, albeit a break below 1.1840 should trigger a downside continuation rally towards the 1.1800 figure.”
“The 1.1900 level stands as the immediate resistance, and sellers will likely surge if reached, while a break above it should favor a run up to 1.1950/70 price zone.”
Key Quotes
“The EUR/USD pair sees no relief this Wednesday, weighted by European data.”
“Technically, the 4 hours chart shows that the bearish tone still dominates the pair, as per the price developing below a bearish 20 SMA and momentum indicator heading lower below 100. RSI remains below 30 with no signs of an upcoming upward correction.”
“Market movements may remain slow ahead of FOMC Minutes later in the American afternoon, particularly if stocks maintain the positive tone, albeit a break below 1.1840 should trigger a downside continuation rally towards the 1.1800 figure.”
“The 1.1900 level stands as the immediate resistance, and sellers will likely surge if reached, while a break above it should favor a run up to 1.1950/70 price zone.”