EUR/USD rises on Friday, but remains limited

By FXstreet.com | August 15, 2014 AAA

FXStreet (Córdoba) - The EUR/USD rose on Friday despite risk appetite and finished the week trading around 1.3400 slightly below the price it had a week ago.



The pair posted the fifth weekly decline in a row but did not reached fresh lows for the current year, like it did in the previous four weeks. Price action remained limited , trading in a small range with resistance below 1.3410/20 and support above 1.330.



EUR/USD consolidates after big decline

The pair continues to move with a downside bias on a wider perspective but during the last days showed signs of stabilization, that could be followed by another bearish run or a corrective rally.



“While we expect EUR/USD to trend lower medium-term, we still expect the pace of USD gains to be moderate and constrained by a dovish FOMC. That said, in recognition of the USD’s recent strength we have revised down our 12 month forecast for EUR/USD to 1.28 from 1.30,” affirmed analysts at Rabobank.



comments powered by Disqus
Related Forex Analysis
  1. NZD/USD Rebounds After Piercing Line Pattern Offered Bullish Signal
    Forex News

    NZD/USD Rebounds After Piercing Line Pattern Offered Bullish Signal

  2. GBP/USD Recovery May Lack Fuel Amid Void Of Reversal Signals
    Forex News

    GBP/USD Recovery May Lack Fuel Amid Void Of Reversal Signals

  3. EUR/USD Descent Stalls As A Doji Candlestick Highlights Hesitation
    Forex News

    EUR/USD Descent Stalls As A Doji Candlestick Highlights Hesitation

  4. USD/JPY recovered from Asian lows at 108.55, but still under pressure
    Forex News

    USD/JPY recovered from Asian lows at 108.55, but still under pressure

  5. EUR/USD Sitting Still
    Investing

    EUR/USD Sitting Still

Trading Center