EUR/USD still trading in a tight range near its year low - FXStreet

By FXstreet.com | Updated July 29, 2014 AAA

FXStreet (Łódź) - According to FXStreet Chief Analyst Valeria Bednarik, EUR/USd remains in wait and see mode and continues trading in a tight range near its year low.



Key quotes



“Some upward spike has seen price extending up to 1.3444 but the pair was unable to sustain its gains and trades back below the 1.3440 mark where it has been ever since the week started."



“The 4 hours chart shows mentioned spike was capped by a bearish 20 SMA, while indicators remain flat below their midlines, giving no directional signs.”



“Despite heavy, the pair needs to accelerate below 1.3410 to confirm a new leg lower, something will rather happen on Wednesday and not today.”
“Anyway, a break below the level will see next supports at 1.3380 and 1.3350 price zone.”



“Some upward momentum above 1.3440 on the other hand, should lead to a test o 1.3475, probable top for the day.”



Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: Dollar Hits a Record Before the ECB Weighs Further QE

  2. Forex News

    Strategy Video: Don’t Be Lulled by the Comfort of Consensus

  3. Forex News

    Beware Risk Trends as Traders Question Oil Market’s Implications

  4. Forex News

    EUR/USD trading end of November with mixed forward outlook - Scotiabank

  5. Forex News

    ECB: “What does T-LTRO 1 take-up mean?” - Rabobank

Trading Center