EUR/USD loses some ground ahead of US opening- FXStreet

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that after remaining calm during the Asian and European sessions, the EUR/USD dropped from the daily high of 1.3609 ahead of the US opening.



Key quotes



"The hourly chart shows a mild bearish tone with price below its 20 SMA while indicators hold below their midlines mostly flat and directionless."



"In the 4 hours chart price continues developing below moving averages all of them converging in a tight 10 pips range, which clearly reflects the lack of direction in the pair."



"As commented on previous updates, stops are likely large below the 1.3570, and if trigger the pair may extend its slide towards the 1.3500/30 price zone."



Related Forex Analysis
  1. Forex News

    EUR/USD underlying pressure on the upside -UOB Group

  2. Investing

    EUR/USD Forecast: December 2014

  3. Forex News

    EUR bears likely to remain in control– FXStreet

  4. Forex News

    EUR/USD drops to 1.2430

  5. Forex News

    EUR/USD depressed, near 1.2450

Trading Center