19 Feb 2015
EUR/USD eyeing 1.1500 levels – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, views that a positive news from Greece, combined with the soft USD theme could help the EUR/USD pair move higher towards 1.1500 levels, with technicals suggesting a break above 1.1450 to lead the pair towards 1.1493 region.
Key Quotes
“The EUR/USD maintained its range of 1.1318-1.1440 in the previous session after the dovish language in the Federal Reserve (Fed) minutes helped the pair recover from the low of 1.1332 to trade above 1.14 levels.”
“Trading at 1.1417, the pair has an immediate resistance at 1.1430 (23.6% retracement of 1.1099-1.1533) and 1.1450.”
“A break above 1.1450 could see the pair rise to 4-hour 200-MA at 1.1493 levels.”
“On the other hand, a failure to rise above 1.1430-1.1450 could push the pair down to 1.1367 (38.2% retracement).”
“The sentiment remains in favor of EUR on reports that Greek is having a turnaround and applying for an extension of the so called "loan agreement", that is the international bailout, for a period of four to six months.”
“Furthermore, Greece’s banks got a lifeline after the European Central Bank (ECB) reportedly agreed to raise the emergency funding available to Greek banks to EUR 68.3 billion.”
“The positive news from Greece coupled with a weak undertone of the US dollar could push the EUR/USD pair to 1.15 levels.”
Key Quotes
“The EUR/USD maintained its range of 1.1318-1.1440 in the previous session after the dovish language in the Federal Reserve (Fed) minutes helped the pair recover from the low of 1.1332 to trade above 1.14 levels.”
“Trading at 1.1417, the pair has an immediate resistance at 1.1430 (23.6% retracement of 1.1099-1.1533) and 1.1450.”
“A break above 1.1450 could see the pair rise to 4-hour 200-MA at 1.1493 levels.”
“On the other hand, a failure to rise above 1.1430-1.1450 could push the pair down to 1.1367 (38.2% retracement).”
“The sentiment remains in favor of EUR on reports that Greek is having a turnaround and applying for an extension of the so called "loan agreement", that is the international bailout, for a period of four to six months.”
“Furthermore, Greece’s banks got a lifeline after the European Central Bank (ECB) reportedly agreed to raise the emergency funding available to Greek banks to EUR 68.3 billion.”
“The positive news from Greece coupled with a weak undertone of the US dollar could push the EUR/USD pair to 1.15 levels.”