29 Apr 2015
EUR/USD: Further gains look possible - FXCharts
FXStreet (Bali) - From a technical standpoint, further gains in EUR/USD look possible, notes Jim Langlands, Founder at FXCharts.
Key Quotes
"With the daily charts still showing positive momentum further gains look possible, and if 1.0990/1.1000 is taken out then stops will be triggered that could take the Euro on towards 1.1035 (Apr 6 high) and to 1.1052 (26 Mar high)."
"On the downside, dips will find support at 1.0920 (minor) and then at 1.0900, although this seems unlikely ahead of the FOMC outcome. If the Fed are more hawkish than expected, then the 100 HMA currently sits at 1.0830 and the 200 HMA at 1.0800."
"Ahead of the FOMC, there will be some data from the EU but which will most likely be largely ignored. The provisional Q1 US GDP will be released ahead of the FOMC Meeting. It will be volatile and from a technical perspective, buying dips appears to be the plan."
Key Quotes
"With the daily charts still showing positive momentum further gains look possible, and if 1.0990/1.1000 is taken out then stops will be triggered that could take the Euro on towards 1.1035 (Apr 6 high) and to 1.1052 (26 Mar high)."
"On the downside, dips will find support at 1.0920 (minor) and then at 1.0900, although this seems unlikely ahead of the FOMC outcome. If the Fed are more hawkish than expected, then the 100 HMA currently sits at 1.0830 and the 200 HMA at 1.0800."
"Ahead of the FOMC, there will be some data from the EU but which will most likely be largely ignored. The provisional Q1 US GDP will be released ahead of the FOMC Meeting. It will be volatile and from a technical perspective, buying dips appears to be the plan."