27 Jan 2015
EUR/USD coming in mildly positive - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted The EUR/USD pair traded in upward corrective mode this Monday, stalling a couple of pips shy of the 1.1300 level, after trading as low as 1.1097 past Asian session.
Key Quotes:
"Despite Greek far-left Syriza took over government and new PM Alexis Tsipras pledged to end five years of austerity and renegotiate Greece's debt agreements, markets were optimistic, with stocks rising and safe havens under pressure for most of the day."
"The macroeconomic calendar was pretty empty, exception made by German IFO survey that showed an improvement in local business climate. Tuesday however will have a good number of fundamental readings particularly coming from the US, set to imprint more life to the US session."
"Technically, the EUR/USD pair presents a mild positive tone in the short term, as the 1 hour chart shows price hovering near the highs and above a slightly bullish 20 SMA, whilst indicators lost upward strength but remain in positive territory."
"In the 4 hours chart indicators continue to advance from extreme oversold levels, but remain well below their midlines, with RSI at 41, while 20 SMA offers strong dynamic resistance in the 1.1350/60 price zone. If this last level is reached, chances are of a strong selling interest surging, limiting the upside, whilst a break below 1.1200 will probably put the pair back under selling pressure."
Key Quotes:
"Despite Greek far-left Syriza took over government and new PM Alexis Tsipras pledged to end five years of austerity and renegotiate Greece's debt agreements, markets were optimistic, with stocks rising and safe havens under pressure for most of the day."
"The macroeconomic calendar was pretty empty, exception made by German IFO survey that showed an improvement in local business climate. Tuesday however will have a good number of fundamental readings particularly coming from the US, set to imprint more life to the US session."
"Technically, the EUR/USD pair presents a mild positive tone in the short term, as the 1 hour chart shows price hovering near the highs and above a slightly bullish 20 SMA, whilst indicators lost upward strength but remain in positive territory."
"In the 4 hours chart indicators continue to advance from extreme oversold levels, but remain well below their midlines, with RSI at 41, while 20 SMA offers strong dynamic resistance in the 1.1350/60 price zone. If this last level is reached, chances are of a strong selling interest surging, limiting the upside, whilst a break below 1.1200 will probably put the pair back under selling pressure."