8 Jul 2014
EUR/USD loses some ground ahead of US opening- FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that after remaining calm during the Asian and European sessions, the EUR/USD dropped from the daily high of 1.3609 ahead of the US opening.
Key quotes
"The hourly chart shows a mild bearish tone with price below its 20 SMA while indicators hold below their midlines mostly flat and directionless."
"In the 4 hours chart price continues developing below moving averages all of them converging in a tight 10 pips range, which clearly reflects the lack of direction in the pair."
"As commented on previous updates, stops are likely large below the 1.3570, and if trigger the pair may extend its slide towards the 1.3500/30 price zone."
Key quotes
"The hourly chart shows a mild bearish tone with price below its 20 SMA while indicators hold below their midlines mostly flat and directionless."
"In the 4 hours chart price continues developing below moving averages all of them converging in a tight 10 pips range, which clearly reflects the lack of direction in the pair."
"As commented on previous updates, stops are likely large below the 1.3570, and if trigger the pair may extend its slide towards the 1.3500/30 price zone."