FXStreet (Łódź) - Following the worse than expected German IFO results, released in the European morning, the EUR/USD broke above yesterday’s high and above a short term descendant trend line, albeit the advance stalled at 1.3627 so far daily high, FXStreet Chief Analyst Valeria Bednarik observes.

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"So far, the pair holds above Monday high, but the hourly chart shows no upward momentum, with indicators turning lower above their midlines."

"In the 4 hours chart a slightly positive tone prevails with price above its 20 SMA and indicators right above their midlines."

"However, only a clear acceleration above 1.3645 should be understood as a bullish sign in the pair, looking for a test of 1.3680 Fibonacci level."

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Forex pairs in this Article » EUR/USD

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