4 Apr 2014
EUR/GBP fending the bears off, up 0.07% on the day
FXStreet (Guatemala) - Currently, EUR/GBP is trading at 0.8271, up 0.07% on the day, having posted a daily high at 0.8276 and low at 0.8255.
EUR/GBP is breaking the neckline of the bearish head and shoulders on the hourly chart. So what is supporting the Euro? Well, strategists at TD Securities noted that German factory orders were slightly better than expected, though there were larger downside risks to the January data. “There was not as much bounce in foreign orders as might have been expected given how soft they were in January and consumer orders came off quite a bit”.
Daily RSI sits at 43.86, neutral territory; hourly up
Currently hourly RSI is at 62.71, up from the last hourly print at 50.26, with ADX at 26.02, up from its previous close at 21.63. Looking to momentum indicators, the hourly 200 SMA is currently at 0.8273, down from the last close at 0.8296 and declining. Over the past 20 days, the exponential average closing price is 0.8304, and ranging.
EUR/GBP Levels
Current price is 0.8271, with resistance ahead at 0.8276 (Daily High), 0.8278 (Hourly 100 SMA), 0.8280 (Daily Classic PP), 0.8295 (Weekly High) and 0.8296 (Hourly 200 SMA). Next support to the downside can be found at 0.8267 (Hourly 20 EMA), 0.8266 (Daily Open), 0.8264 (Weekly Low), 0.8259 (Yesterday's Low) and 0.8255 (Daily Low).
EUR/GBP is breaking the neckline of the bearish head and shoulders on the hourly chart. So what is supporting the Euro? Well, strategists at TD Securities noted that German factory orders were slightly better than expected, though there were larger downside risks to the January data. “There was not as much bounce in foreign orders as might have been expected given how soft they were in January and consumer orders came off quite a bit”.
Daily RSI sits at 43.86, neutral territory; hourly up
Currently hourly RSI is at 62.71, up from the last hourly print at 50.26, with ADX at 26.02, up from its previous close at 21.63. Looking to momentum indicators, the hourly 200 SMA is currently at 0.8273, down from the last close at 0.8296 and declining. Over the past 20 days, the exponential average closing price is 0.8304, and ranging.
EUR/GBP Levels
Current price is 0.8271, with resistance ahead at 0.8276 (Daily High), 0.8278 (Hourly 100 SMA), 0.8280 (Daily Classic PP), 0.8295 (Weekly High) and 0.8296 (Hourly 200 SMA). Next support to the downside can be found at 0.8267 (Hourly 20 EMA), 0.8266 (Daily Open), 0.8264 (Weekly Low), 0.8259 (Yesterday's Low) and 0.8255 (Daily Low).