EUR/USD stuck around its year’s lows - FXStreet

By FXstreet.com | July 25, 2014 AAA

FXStreet (Łódź) - As FXStreet Chief Analyst Valeria Bednarik points out, EUR/USD remains close to this year’s lows, having fallen to 1.3440 after the disappointing German IFO confidence data.

Key quotes



“The technical picture is still clearly bearish, with price developing below its 20 SMA and 1.3475 strong static resistance level in the 4 hours chart, and with momentum retracing from its midline and turning back south."



“RSI also supports the downside, having corrected oversold levels and hovering now around 32.”



“Risk stands to the downside despite the slomo movements, with a price acceleration below 1.3440 favoring a run towards the 1.3400 figure.”



“A weekly close below it will expose 1.3290 price zone for the upcoming days.”



“Approaches to mentioned 1.3475 level should be consider as selling opportunities, as only a steady recovery above 1.3500 will revert current negative tone in the short term.”



comments powered by Disqus
Related Forex Analysis
  1. SEB: EUR/USD sellers just above resistance - eFXnews
    Forex News

    SEB: EUR/USD sellers just above resistance - eFXnews

  2. USD/JPY shows another attempt to reach recent highs
    Forex News

    USD/JPY shows another attempt to reach recent highs

  3. EUR/GBP testing the range bottom before the UK data
    Forex News

    EUR/GBP testing the range bottom before the UK data

  4. EUR/USD Forex Signal - September 17
    Investing

    EUR/USD Forex Signal - September 17

  5. What’s the sentiment around the EUR/USD today? – OCBC Bank and Scotiabank
    Forex News

    What’s the sentiment around the EUR/USD today? – OCBC Bank and Scotiabank

Trading Center