29 Jan 2014
Flash: EUR/USD: upside remains limited – FXStreet
FXstreet.com (Córdoba) - Valeria Bednarik, chief analyst at FXStreet notes that the EUR/USD upside remains limited as long as below the descendant trend line around 1.3685 and a clear advance above it is required to reverse current short term bearish tone.
Key Quotes
"The EUR/USD is quickly recovering the ground lost after The Banque de France's Noyer stated that any rise in the euro would be negative, sending the pair down to 1.3602".
"Market attention continues to split in between emerging market currencies in a while ride and upcoming FED monetary policy decision, with safe havens for now, leading the way".
"The EUR/USD saw a temporal break below the base of a short term triangle, but current hourly candle opened again inside the figure, still not confirming further bearish pressure. In the same time frame, indicators present a slightly negative tone, while the 4 hours chart also presents a slightly negative tone".
"The upside remains limited as long as below the descendant trend line currently around 1.3685 and a clear advance above it is required to reverse current short term bearish tone".
Key Quotes
"The EUR/USD is quickly recovering the ground lost after The Banque de France's Noyer stated that any rise in the euro would be negative, sending the pair down to 1.3602".
"Market attention continues to split in between emerging market currencies in a while ride and upcoming FED monetary policy decision, with safe havens for now, leading the way".
"The EUR/USD saw a temporal break below the base of a short term triangle, but current hourly candle opened again inside the figure, still not confirming further bearish pressure. In the same time frame, indicators present a slightly negative tone, while the 4 hours chart also presents a slightly negative tone".
"The upside remains limited as long as below the descendant trend line currently around 1.3685 and a clear advance above it is required to reverse current short term bearish tone".