28 Apr 2015
EUR/USD gains might extend to 1.1000 – FXStreet
FXStreet (Barcelona) - With EUR/USD breaking through the crucial 1.0900 barrier, Valeria Bednarik, Chief Analyst at FXStreet, sees additional gains towards 1.1000 possible on a break above 1.0950.
Key Quotes
“The EUR/USD pair aims higher around the 1.0900 level, with the 4 hours chart showing that the 20 SMA advanced further below the current price, now around 1.0850, whilst the RSI indicator turned north around 64 and the Momentum indicator heads lower around 100, still not reflecting the latest advance.”
“The pair can now extend its rally up to the 1.0950 region, a strong static resistance level. If the price manages to continue advancing, then a test of the 1.1000 level seems likely. Selling interest would likely surge around this area, albeit the pullback is expected to be limited.”
“To the downside, the pair is limited by a strong support area between 1.0840/50, so it will take a break below it to confirm additional declines towards the 1.0800 price zone.”
Key Quotes
“The EUR/USD pair aims higher around the 1.0900 level, with the 4 hours chart showing that the 20 SMA advanced further below the current price, now around 1.0850, whilst the RSI indicator turned north around 64 and the Momentum indicator heads lower around 100, still not reflecting the latest advance.”
“The pair can now extend its rally up to the 1.0950 region, a strong static resistance level. If the price manages to continue advancing, then a test of the 1.1000 level seems likely. Selling interest would likely surge around this area, albeit the pullback is expected to be limited.”
“To the downside, the pair is limited by a strong support area between 1.0840/50, so it will take a break below it to confirm additional declines towards the 1.0800 price zone.”