29 Jan 2014
Flash: EUR/USD: FOMC and emerging markets in the spotlight - FXStreet
FXstreet.com (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst notes that 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.
Key Quotes
“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.”
“Support levels: 1.3630 1.3585 1.3550. Resistance levels: 1.3685 1.3710 1.3745.”
Key Quotes
“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.”
“Support levels: 1.3630 1.3585 1.3550. Resistance levels: 1.3685 1.3710 1.3745.”