EUR/USD: 1.1400 is doable - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that EUR/USD has been trading in a 50 pips day all day long, meeting buyers on approaches to the 1.1350 price zone, but unable to advance beyond the 1.1400 figure.

    Key Quotes:

    "The pair however, holds to its latest gains, which maintains the risk towards the upside, regardless a downside corrective movement towards the 1.1300 price zone. Short term, the 1 hour chart shows that the price is now below a horizontal 20 SMA, whilst the technical indicators head lower below their mid-lines, supporting a short term downward corrective move.

    In the 4 hours the technical indicators have eased partially from overbought readings, but the Momentum indicator is aiming higher well above its mid-line, whilst the 20 SMA presents a strong upward slope below the current level, supporting additional advances on a break above 1.1400."
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