29 Jan 2015
EUR/USD gaining bullish track, watch 1.1365 – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, a break above 1.1365 or below 1.1205 is needed to define a clear trend for the EUR/USD pair.
Key Quotes
“Despite the day was fulfilled with fundamental data both shores of the Atlantic, the EUR/USD seems unable to gain directional strength, contained within yesterdays’ range. Trading slightly higher, the common currency was hardly affected by news German inflation fell for the first time in 5 years, confirming local deflation.”
“Technically, the 1 hour chart presents a mild bullish stance with indicators aiming higher above their midlines, and 20 and 100 SMAs almost together a few pips below the current level.”
“In the 4 hours chart the price hovers around its 20 SMA that converges with the Fibonacci level at 1.1305, while indicators are also in neutral territory.”
“A price extension either above 1.1365 or below 1.1205 is now required to define a clearer trend for the upcoming sessions.”
Key Quotes
“Despite the day was fulfilled with fundamental data both shores of the Atlantic, the EUR/USD seems unable to gain directional strength, contained within yesterdays’ range. Trading slightly higher, the common currency was hardly affected by news German inflation fell for the first time in 5 years, confirming local deflation.”
“Technically, the 1 hour chart presents a mild bullish stance with indicators aiming higher above their midlines, and 20 and 100 SMAs almost together a few pips below the current level.”
“In the 4 hours chart the price hovers around its 20 SMA that converges with the Fibonacci level at 1.1305, while indicators are also in neutral territory.”
“A price extension either above 1.1365 or below 1.1205 is now required to define a clearer trend for the upcoming sessions.”