16 Jun 2014
EUR/USD short term indicators mixed - FXStreet
FXStreet (Guatemala) - Val Bednarik, Chief analyst at FXSreet explained that the EUR/USD edged higher this Monday, advancing up to 1.3579 before pulling back some, a couple pips above Friday high.
Key Quotes:
“Comments hitting the wires the ECB will likely refrain from introducing more stimulus in the upcoming months, along with mild positive data helped creating some risk on environment, sending stocks up and commodities down on the day”.
“The EUR/USD however, is far from confirming a continued advance, at least in the short term: the hourly chart shows price retracing from its 200 SMA offering intraday support around mentioned daily high, while indicators turn south above their midlines”.
“In the 4 hours chart a slightly positive tone surges from technical readings, as price advances above its 20 SMA and indicators head north into positive territory”.
“Some further strength above the high may see the pair advancing up to 1.3640/50 strong static resistance area over the upcoming sessions, while critical resistance stands at 1.3680, 61.8% retracement of this year rally.
Key Quotes:
“Comments hitting the wires the ECB will likely refrain from introducing more stimulus in the upcoming months, along with mild positive data helped creating some risk on environment, sending stocks up and commodities down on the day”.
“The EUR/USD however, is far from confirming a continued advance, at least in the short term: the hourly chart shows price retracing from its 200 SMA offering intraday support around mentioned daily high, while indicators turn south above their midlines”.
“In the 4 hours chart a slightly positive tone surges from technical readings, as price advances above its 20 SMA and indicators head north into positive territory”.
“Some further strength above the high may see the pair advancing up to 1.3640/50 strong static resistance area over the upcoming sessions, while critical resistance stands at 1.3680, 61.8% retracement of this year rally.