9 Dec 2014
EUR/USD ready to challenge 1.2400 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that the EUR/USD pair reached its highest of the week, trading in the 1.2390 price zone.
Key Quotes
“The EUR/USD pair reached its highest of the week in the 1.2390 price zone, and continues to advance early US session. Stocks all over the world are strongly down as the negative sentiment deepened, and New York points to a quite strong opening, weighting in the America currency. UK GDP estimate and US employment data are pending still, and both are expected some further volatility into the market.”
“As for the technical picture, the EUR/USD 1 hour chart shows the price pressuring its 200 EMA as indicators aim higher above their midlines, supporting some further advances. In the 4 hours chart price develops above its 20 SMA, whilst momentum remains below 100 and RSI advances above 50. The 1.2400 figure stands as immediate resistance, with a break above it probably triggering a continuation towards post ECB highs at 1.2455.”
Key Quotes
“The EUR/USD pair reached its highest of the week in the 1.2390 price zone, and continues to advance early US session. Stocks all over the world are strongly down as the negative sentiment deepened, and New York points to a quite strong opening, weighting in the America currency. UK GDP estimate and US employment data are pending still, and both are expected some further volatility into the market.”
“As for the technical picture, the EUR/USD 1 hour chart shows the price pressuring its 200 EMA as indicators aim higher above their midlines, supporting some further advances. In the 4 hours chart price develops above its 20 SMA, whilst momentum remains below 100 and RSI advances above 50. The 1.2400 figure stands as immediate resistance, with a break above it probably triggering a continuation towards post ECB highs at 1.2455.”