EUR/USD falls on better than expected US Q2 GDP - FXStreet

By FXstreet.com | July 30, 2014 AAA

FXStreet (Łodź) - FXStreet Chief Analyst Valeria Bednarik notes that the weak US ADP number was ingnored by investors who jumped on the dollar after the better than expected US Q2 GDP data was released.



Key quotes



“The EUR/USD fell as low as 1.3370 so far today, with selling interest now probably surging around 1.3400.”



“The hourly chart shows price extending below a bearish 20 SMA and indicators heading south in negative territory, while the 4 hours chart presents also a bearish technical tone.”



“With the FED schedule for the American afternoon, the pair may see no follow through in the short term, but as long as below 1.3400/10 the downside is favored, towards 1.3295 strong static support area, November 2013 monthly low.”



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY desperate to move away from 107.00
    Forex News

    USD/JPY desperate to move away from 107.00

  2. US Dollar Technical Analysis: Readying to Resume Uptrend?
    Forex News

    US Dollar Technical Analysis: Readying to Resume Uptrend?

  3. GBP/USD goes nowhere ahead of retail sales report
    Forex News

    GBP/USD goes nowhere ahead of retail sales report

  4. EUR/JPY Technical Analysis: Former Resistance Now Support
    Forex News

    EUR/JPY Technical Analysis: Former Resistance Now Support

  5. GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen
    Forex News

    GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen

Trading Center