FXStreet (Barcelona) - According to FXStreet Chief Analyst Valeria Bednarik EUR/USD posted a lower low daily basis of 1.3511 this Thursday having recovered some ground amid poor US retail sales and unemployment data, both missing expectations.
“Stocks in the US point for a lower opening, extending yesterday’s losses, while local share markets are quite flat.”
“As for the EUR/USD, the pair managed to bounce some but the upside is still quite limited, with price far from 1.3570/80 resistance area.”
“The hourly chart shows price holding above its 20 SMA ahead of US opening, while indicators remain flat around their midlines, lacking direction.”
“In the 4 hours chart 20 SMA maintains a strong bearish slope around 1.3560, while indicators resumed the downside below their midlines, with risk still seen towards 1.3476 this year low.”