30 Jan 2015
EUR/USD might see 1.1400 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes EUR/USD is moving higher in its 1.1305 – 1.1365 range, a break above which might lead the pair towards 1.1400.
Key Quotes
“Having been range bound since Wednesday, the 4 hours chart shows that the price advances above its 20 SMA whilst indicators are flat in neutral territory.”
“The pair is trading mostly between 1.1305, 38.2% retracement of its latest slide, and 1.1365, 50% of the same rally.”
“A break above this last could lead to a quick advance up to 1.1400, and even up to 1.1440 where sellers should surge.”
“Anyway, is the last day of the month and profit taking will have a significant weight in the forex board, affecting most likely overbought greenback.”
Key Quotes
“Having been range bound since Wednesday, the 4 hours chart shows that the price advances above its 20 SMA whilst indicators are flat in neutral territory.”
“The pair is trading mostly between 1.1305, 38.2% retracement of its latest slide, and 1.1365, 50% of the same rally.”
“A break above this last could lead to a quick advance up to 1.1400, and even up to 1.1440 where sellers should surge.”
“Anyway, is the last day of the month and profit taking will have a significant weight in the forex board, affecting most likely overbought greenback.”