17 Dec 2014
EUR/USD in wait and see mode – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, sees the EUR/USD pair waiting for directions from the Fed statement, noting that a break below 1.2400 or above 1.2485 may set the tone for the pair.
Key Quotes
“The EUR/USD pair bounced from a daily low of 1.2445 following weaker than expected inflation readings in the US. CPI missed expectations, with the YoY reading at 1.3% and Nov figure at -0.3%, down on energy costs, no surprise considering oil lost 45% of its value in the last 6 months.”
“However, things may not be as bad as the headline suggest, as according to latest NFP data, hourly wages increased meaning real wages actually increased as a result.”
“The 1 hour chart shows however that the price remains limited to the upside by a bearish 20 SMA around 1.2485 while indicators diverge from each other but remain in negative territory.”
“In the 4 hours chart price continues to struggle around its 20 SMA whilst indicators rest directionless in neutral territory.”
Key Quotes
“The EUR/USD pair bounced from a daily low of 1.2445 following weaker than expected inflation readings in the US. CPI missed expectations, with the YoY reading at 1.3% and Nov figure at -0.3%, down on energy costs, no surprise considering oil lost 45% of its value in the last 6 months.”
“However, things may not be as bad as the headline suggest, as according to latest NFP data, hourly wages increased meaning real wages actually increased as a result.”
“The 1 hour chart shows however that the price remains limited to the upside by a bearish 20 SMA around 1.2485 while indicators diverge from each other but remain in negative territory.”
“In the 4 hours chart price continues to struggle around its 20 SMA whilst indicators rest directionless in neutral territory.”