13 Jan 2015
EUR/USD: Above 1.1910 allows 1.20 - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, only a clear break above 1.1910 would allow a near term rally up to 1.2000 in EUR/USD.
Key Quotes
"As a new day starts, the EUR/USD pair stands unchanged around its daily opening, and with the 1 hour chart showing price struggling around 20 and 100 SMAs, both converging around 1.1830, as indicators aim higher but still below their midlines, not yet supporting further advances."
"In the 4 hours chart however, the latest candle opened above a flat 20 SMA while indicators head north above their midlines looking a bit more EUR constructive. Nevertheless, the key resistance level stands around the 1.1910 price zone, and it would take a clear break above it to confirm a rally up to 1.2000, where the pair will finally fill the gap from early this year."
Key Quotes
"As a new day starts, the EUR/USD pair stands unchanged around its daily opening, and with the 1 hour chart showing price struggling around 20 and 100 SMAs, both converging around 1.1830, as indicators aim higher but still below their midlines, not yet supporting further advances."
"In the 4 hours chart however, the latest candle opened above a flat 20 SMA while indicators head north above their midlines looking a bit more EUR constructive. Nevertheless, the key resistance level stands around the 1.1910 price zone, and it would take a clear break above it to confirm a rally up to 1.2000, where the pair will finally fill the gap from early this year."