EUR/USD: Clear bearish tone - FXStreet

By FXstreet.com | Updated July 27, 2014 AAA

FXStreet (Bali) - A clear bearish tone remains in place in EUR/USD, notes Valeria Bednarik, Chief Analyst at FXStreet.



Key Quotes



"The EUR/USD stands steady around the year low of 1.3320 reached last Friday, with a quiet calendar for the Asian session pointing for another dull Monday."



"The week however, will be fulfilled with US data, starting with GDP and FOMC meeting on Wednesday, and NFP figures on Friday, which may turn market even thinner ahead of the events."



"Technically, the hourly chart maintains a clear bearish tone, with price developing below its moving averages, all heading lower, and momentum still heading south despite near oversold levels."



"In the 4 hours chart indicators seem slightly exhausted to the downside, suggesting a probable upward correction: above 1.3440, the pair mat extend up to 1.3475, yet gains beyond this last are not likely. A break below 1.3410 on the other hand, should only accelerate the slide."



Related Forex Analysis
  1. EUR/USD Risks Larger Rebound on Dismal U.S. Durable Goods Orders
    Forex News

    EUR/USD Risks Larger Rebound on Dismal U.S. Durable Goods Orders

  2. EUR/USD stuck below 1.2500
    Forex News

    EUR/USD stuck below 1.2500

  3. EUR/USD Struggles Sub 1.2500 With Bullish Signals Absent
    Forex News

    EUR/USD Struggles Sub 1.2500 With Bullish Signals Absent

  4. Dollar and Yields Slide Despite Improved US Data
    Forex News

    Dollar and Yields Slide Despite Improved US Data

  5. EUR/USD: Firmer foundation to buy dips after 1.2445 breakout
    Forex News

    EUR/USD: Firmer foundation to buy dips after 1.2445 breakout

Trading Center