9 Apr 2015
EUR/USD remains bearish in the short term - FXStreet
FXStreet (Bali) - EUR/USD remains bearish in the short term, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"The pair fell down to the 1.0760 area after the news, consolidating below the 1.0800 level and overall bearish in the short term, as the steady decline after failing to advance beyond 1.1000 has finally took its toll over bulls."
"The 1 hour chart shows that the price develops below its moving averages, and that the technical indicators have turned sharply lower below their mid-lines, keeping the pressure towards the downside."
"In the 4 hours chart the price is also developing below its moving averages, with the 100 SMA capping the upside now around 1.0830, whilst the technical indicators maintain their bearish tone below their mid-lines, supporting additional declines towards 1.0710, 23.6% retracement of the latest monthly bearish run."
Key Quotes
"The pair fell down to the 1.0760 area after the news, consolidating below the 1.0800 level and overall bearish in the short term, as the steady decline after failing to advance beyond 1.1000 has finally took its toll over bulls."
"The 1 hour chart shows that the price develops below its moving averages, and that the technical indicators have turned sharply lower below their mid-lines, keeping the pressure towards the downside."
"In the 4 hours chart the price is also developing below its moving averages, with the 100 SMA capping the upside now around 1.0830, whilst the technical indicators maintain their bearish tone below their mid-lines, supporting additional declines towards 1.0710, 23.6% retracement of the latest monthly bearish run."