8 Apr 2015
EUR/USD might test 1.0748 – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, EUR/USD might breach the rising trend line support at 1.0822 to test 1.0748 levels.
Key Quotes
“On the charts, we see the pair has bounced-off today from the rising trend line support at 1.0822. The sell-off in the previous session also halted near the rising trend line support. Still, the daily RSI has been pushed back below 50.00 levels.”
“On the hourly charts, the pair has dipped below the 200-MA located at 1.0855. Upbeat …Eurozone retail sales data could see the pair rise towards 1.0870 (38.2% Fib retracement of 1.1532-1.0461). However, a fresh selling pressure could emerge, which is likely to see the pair breach the rising trend line support at 1.0822.”
“A break below 1.0822 could push the pair down to 1.0748 levels.”
“On the other hand, an hourly closing above 1.0870 could bring EUR bulls back in the game.”
Key Quotes
“On the charts, we see the pair has bounced-off today from the rising trend line support at 1.0822. The sell-off in the previous session also halted near the rising trend line support. Still, the daily RSI has been pushed back below 50.00 levels.”
“On the hourly charts, the pair has dipped below the 200-MA located at 1.0855. Upbeat …Eurozone retail sales data could see the pair rise towards 1.0870 (38.2% Fib retracement of 1.1532-1.0461). However, a fresh selling pressure could emerge, which is likely to see the pair breach the rising trend line support at 1.0822.”
“A break below 1.0822 could push the pair down to 1.0748 levels.”
“On the other hand, an hourly closing above 1.0870 could bring EUR bulls back in the game.”