25 May 2015
EUR/USD below 1.0958 exposes 1.0920 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, explains that EUR/USD might decline towards 1.0920 if the pair breaks below the daily low at 1.0958.
Key Quotes
“The EUR/USD pair has lost the 1.1000 level and fell down to 1.0958, standing a few pips above it and with the 4 hours chart showing that the technical indicators head lower below their mid-lines, albeit lacking momentum due to the limited volume in the market. The 20 SMA maintains a bearish slope, heading lower around 1.1070.”
“Additional declines below the mentioned daily low should lead to a downward continuation towards 1.0920, the next static support, whilst selling interest will likely surge on approaches to the 1.1000 figure. Nevertheless, if the price accelerates above this last, 1.1050 is the next level to watch.”
Key Quotes
“The EUR/USD pair has lost the 1.1000 level and fell down to 1.0958, standing a few pips above it and with the 4 hours chart showing that the technical indicators head lower below their mid-lines, albeit lacking momentum due to the limited volume in the market. The 20 SMA maintains a bearish slope, heading lower around 1.1070.”
“Additional declines below the mentioned daily low should lead to a downward continuation towards 1.0920, the next static support, whilst selling interest will likely surge on approaches to the 1.1000 figure. Nevertheless, if the price accelerates above this last, 1.1050 is the next level to watch.”