19 Feb 2015
EUR/USD range-play expected – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, gives the technical outlook for EUR/USD, viewing that the technical picture for the pair stands neutral.
Key Quotes
“..the EUR/USD 4 hours chart shows that the spike towards a fresh high was short lived, with the price now struggling to hold above 1.1400. The pair failed to extend its gains above the daily descendant trend line coming from 1.1533 and the technical picture is for the most neutral, as the price holds above a flat 20 SMA while the indicators present a tepid bearish slope right above their midlines.”
“As of lately the pair has found support in a daily ascendant trend line coming from 1.1097, today around 1.1350 offering immediate support in case of further slides.”
“Anyway, seems the pair will continue ranging until some deal is reached in Europe, with a break above 1.1450 favoring then a test of the 1.1500 level, and a break below 1.1350 exposing the 1.1300 figure in the short term.”
Key Quotes
“..the EUR/USD 4 hours chart shows that the spike towards a fresh high was short lived, with the price now struggling to hold above 1.1400. The pair failed to extend its gains above the daily descendant trend line coming from 1.1533 and the technical picture is for the most neutral, as the price holds above a flat 20 SMA while the indicators present a tepid bearish slope right above their midlines.”
“As of lately the pair has found support in a daily ascendant trend line coming from 1.1097, today around 1.1350 offering immediate support in case of further slides.”
“Anyway, seems the pair will continue ranging until some deal is reached in Europe, with a break above 1.1450 favoring then a test of the 1.1500 level, and a break below 1.1350 exposing the 1.1300 figure in the short term.”