30 Jan 2014
Flash: EUR/USD sell off extending - FXStreet
FXstreet.com (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst notes that the EUR/USD continues to slide after US GDP readings posted 3.2% as expected, but weighted by a quite negative German CPI reading, down to -0.6% and putting the EU one step closer to deflation.
Key Quotes
“The hourly hart shows a strong downward momentum, with indicators entering oversold territory, while 20 SMA gains bearish slope well above current price.”
“In the 4 hours chart technical readings also present a strong bearish tone, with a break below 1.3550 exposing the pair to a test of the 1.3500 area.”
“Support levels: 1.3550 1.3510 1.3470. Resistance levels: 1.3590 1.3630 1.3675.”
Key Quotes
“The hourly hart shows a strong downward momentum, with indicators entering oversold territory, while 20 SMA gains bearish slope well above current price.”
“In the 4 hours chart technical readings also present a strong bearish tone, with a break below 1.3550 exposing the pair to a test of the 1.3500 area.”
“Support levels: 1.3550 1.3510 1.3470. Resistance levels: 1.3590 1.3630 1.3675.”