EUR/USD trading in tight range with positive tone - FXStreet

By FXstreet.com | July 28, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that in today’s uneventful beginning of the US session EUR/USD is trading in a tight 20 pips range with a slightly positive tone in the hourly chart.



Key quotes



“Price stands above its 20 SMA and indicators in positive territory, albeit with no directional strength.”



“In the 4 hours chart the technical picture is still bearish, with indicators turning lower in negative territory, after correcting oversold readings, while price develops below a strongly bearish 20 SMA.”



“In case of recoveries, 1.3475 should cap the upside attracting sellers, yet a break below 1.3410 should accelerate the slide.”



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD upside remains corrective – Commerzbank
    Forex News

    GBP/USD upside remains corrective – Commerzbank

  2. USD/CHF shows recovery attempts, as it bottomed at 0.9340
    Forex News

    USD/CHF shows recovery attempts, as it bottomed at 0.9340

  3. EUR/USD Daily Outlook - September 19
    Investing

    EUR/USD Daily Outlook - September 19

  4. SEB:  More EUR/USD buying seen above 1.2943 - eFXnews
    Forex News

    SEB: More EUR/USD buying seen above 1.2943 - eFXnews

  5. USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI
    Forex News

    USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI

Trading Center