EUR/USD at lowest level in over a month - FXStreet

By FXstreet.com | July 16, 2014 AAA

FXStreet (Łódź) -FXStreet Chief Analyst Valeria Bednarik remarks that EUR/USD keeps declining following Fed head Janet Yellen's testimony on Tuesday, hovering close to the 1.3520 level.



Key quotes



"Due to continue speaking before the Senate today, market may have already absorbed most of what she has to say regarding upcoming economic policies, albeit more market reactions should not be disregarded just yet."



"With no other major catalysts for the EUR/USD today, the hourly chart shows a strong bearish tone, with moving averages well above current price and heading south, while indicators are biased lower below their midlines."



"In the 4 hours chart the bearish momentum is even stronger, pointing for a retest of June low of 1.3502, ahead of this year low of 1.3476."



" To the upside, 1.3570 has attracted intraday sellers so recovery up to that level will likely be seen as selling opportunities. "



comments powered by Disqus
Related Forex Analysis
  1. Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...
    Forex News

    Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...

  2. Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends
    Forex News

    Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends

  3. US Session recap: USD consolidation ahead of FOMC
    Forex News

    US Session recap: USD consolidation ahead of FOMC

  4. A market in a technical snap-shot - RBS
    Forex News

    A market in a technical snap-shot - RBS

  5. EZ gave mixed data at key timings - BBH
    Forex News

    EZ gave mixed data at key timings - BBH

Trading Center