13 Mar 2014
Flash: EUR crosses turned bearish after Draghi - FXStreet
FXStreet (Córdoba) - Valeria Bednarik, Chief Analyst at FXStreet notes that recent comments made by Mario Draghi, pushed the EUR/USD and the EUR/JPY sharply lower, making important shifts in the technical bias.
Key Quotes:
“EUR/USD 4 hours chart shows indicators turned south and are about to cross their midlines. This week low around 1.3830 comes as immediate support to follow, and if below, risk turns towards 1.3770 price zone.
“In the 4 hours chart (EUR/JPY) technical readings present a strong downward momentum, suggesting further falls are likely, with 140.40 strong static level now at sight. If this last gives up, expect yen rally to extend over this Friday”.
Key Quotes:
“EUR/USD 4 hours chart shows indicators turned south and are about to cross their midlines. This week low around 1.3830 comes as immediate support to follow, and if below, risk turns towards 1.3770 price zone.
“In the 4 hours chart (EUR/JPY) technical readings present a strong downward momentum, suggesting further falls are likely, with 140.40 strong static level now at sight. If this last gives up, expect yen rally to extend over this Friday”.