16 Feb 2015
EUR/USD stuck at Fib levels, eyes Eurogroup meet – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, mentions that with EUR/USD stuck in the 1.1430-1.1360 range, the eurogroup meet is key for giving direction to the pair.
Key Quotes
“The EUR/USD pair struggled to sustain gains above the 23.6% retracement level at 1.1430 in the previous two sessions.”
“On the hourly chart, the pair appears stuck in the range of 1.1430-1.1360. The immediate outlook is neutral.”
“The immediate resistance is seen at 1.1430. A break above the same could push the pair higher to 1.15 levels.”
“On the other hand, a break below 1.1360 may open doors for a re-test of 1.1315 (50% retracement) levels.”
“All eyes are on another round of negotiations between Greece and EU officials scheduled today in Brussels. The last week’s meeting failed to produce any concrete results. Moreover, a failure to reach a deal today could push the pair below 1.1360 levels.”
“The rumors of 6-month extension on Greek debt repayments were dismissed by the German Finance Minister, however a Grexit could be catastrophic for the Eurozone. Hence, some kind of a deal could come through from the today’s meeting, which could see the EUR/USD pair rise above 1.1430 levels.”
Key Quotes
“The EUR/USD pair struggled to sustain gains above the 23.6% retracement level at 1.1430 in the previous two sessions.”
“On the hourly chart, the pair appears stuck in the range of 1.1430-1.1360. The immediate outlook is neutral.”
“The immediate resistance is seen at 1.1430. A break above the same could push the pair higher to 1.15 levels.”
“On the other hand, a break below 1.1360 may open doors for a re-test of 1.1315 (50% retracement) levels.”
“All eyes are on another round of negotiations between Greece and EU officials scheduled today in Brussels. The last week’s meeting failed to produce any concrete results. Moreover, a failure to reach a deal today could push the pair below 1.1360 levels.”
“The rumors of 6-month extension on Greek debt repayments were dismissed by the German Finance Minister, however a Grexit could be catastrophic for the Eurozone. Hence, some kind of a deal could come through from the today’s meeting, which could see the EUR/USD pair rise above 1.1430 levels.”