25 Mar 2016
EUR/USD bearish below 1.1245 - FXStreet
Valeria Bednarik, chief analyst at FXStreet explained the technical outlook for EUR/USD.
Key Quotes:
"Technically, the 4 hours chart shows that the roof of the daily descendant channel is currently being tested, and also that the technical indicators have bounced from oversold readings, but remain well into negative territory, far from suggesting a bullish run ahead. At this point, the price needs to regain the 1.1245 level to reverse its latest negative tone and be able to rally up to the 1.1290 region."
Key Quotes:
"Technically, the 4 hours chart shows that the roof of the daily descendant channel is currently being tested, and also that the technical indicators have bounced from oversold readings, but remain well into negative territory, far from suggesting a bullish run ahead. At this point, the price needs to regain the 1.1245 level to reverse its latest negative tone and be able to rally up to the 1.1290 region."