24 Mar 2015
EUR/USD might slip to 1.0830 – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, technicals suggest that EUR/USD might fall towards 1.0830 levels before fresh demand for the single currency emerges.
Key Quotes
“The daily chart shows the pair has failed for the second time to sustain gains above 1.1 levels. Moreover, the daily candle has dipped into the red after clocking a high of 1.1027, which indicates further losses ahead. The daily RSI and the hourly RSI is bearish as well.”
“Any bounce from the current level of 1.0924 could be restricted around 1.0950-1.0970 levels. Moreover, a fresh demand for Euros is unlikely to be seen so long as it fails to confirm a close above 1.10 on the 4-hour chart.”
“Given the bearish daily and hourly RSI and the overbought 4-hour RSI, the pair could move to its 5-DMA located at 1.0830 before a fresh demand for the Euros kicks-in.“
Key Quotes
“The daily chart shows the pair has failed for the second time to sustain gains above 1.1 levels. Moreover, the daily candle has dipped into the red after clocking a high of 1.1027, which indicates further losses ahead. The daily RSI and the hourly RSI is bearish as well.”
“Any bounce from the current level of 1.0924 could be restricted around 1.0950-1.0970 levels. Moreover, a fresh demand for Euros is unlikely to be seen so long as it fails to confirm a close above 1.10 on the 4-hour chart.”
“Given the bearish daily and hourly RSI and the overbought 4-hour RSI, the pair could move to its 5-DMA located at 1.0830 before a fresh demand for the Euros kicks-in.“