EUR/USD holding some pips below 1.3650 resistance zone - FXStreet

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that the EUR is the inly major currency holding to its latest gains against the dollar, with EUR/USD holding some pips below 1.3650 strong static resistance zone.



Key quotes



"The 4 hours chart shows a mild positive tone, as per price holding above its moving averages with 20 SMA slowly gaining some bullish slope."



"Indicators in the same time frame stand in positive territory, yet lack upward strength at the time being."



"The positive tone has however, to confirm itself by advancing beyond 1.3680/1.3700 price zone, where a long term Fibonacci resistance converges with recent highs."



"Being the top of the range, should not surprise if selling pressure reappears on a test of the level. Above it on the other hand, 1.3770 is the probable bullish target."



"To the downside, the immediate short term support stands at 1.3620, and if below 1.3570/80 price zone comes next."



Related Forex Analysis
  1. Latest Promise of Easing from ECB Keeps Euro Rebound at Bay
    Forex News

    Latest Promise of Easing from ECB Keeps Euro Rebound at Bay

  2. Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market
    Forex News

    Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market

  3. Trading Video: Officials Trigger Volatility for Euro, Yen and Dollar
    Forex News

    Trading Video: Officials Trigger Volatility for Euro, Yen and Dollar

  4. Strategy Video: A Volatile Thanksgiving Week for FX?
    Forex News

    Strategy Video: A Volatile Thanksgiving Week for FX?

  5. US Session: The market left shell-shocked on Draghi
    Forex News

    US Session: The market left shell-shocked on Draghi

Trading Center