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

By FXstreet.com | Updated 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.”



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EURUSD: Looking to sell - 2ndSkies

  2. Forex News

    EUR/USD makes fresh 5-week lows in Asia

  3. Forex News

    Euro’s Hope Lies in ECB’s Economic Projections, Not in Greece

  4. Forex News

    Weekly Trading Forecast: Expect Heavy Seas Between NFPs, ECB and RBA

  5. Forex News

    Trading Video: Expect Volatility for the Dollar, Equities, Euro...Everything

Trading Center