EUR/USD: 1.1000 on the cards this week? - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Valeria Bednarik, chief analyst at FXStreet explained that as for the technical picture of the EUR/USD pair, a neutral stance has prevented itself for the near term.

    Key Quotes:

    "The price is stuck around the 61.8% retracement of the rally achieved post-FED, at 1.1165, presenting a neutral stance in the short term, given the lack of liquidity of these last days.

    The pair fell for the last five consecutive days, but the daily chart shows that the price remains above its moving averages, with the 20 SMA now heading north around 1.1130, and the technical indicators holding flat well into positive territory.

    Should the decline accelerate below 1.1120, the risk will turn lower, with chances then of a test of the 1.1000 level during the upcoming days."
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