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EUR/USD looking for direction out of wide range - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD pair traded as low as 1.0685 this Monday, with markets being driven by risk sentiment at the beginning of the week, amid the terrorist attacks in France last Friday.

    Key Quotes:

    "Safe havens edged higher with gold and the JPY being the most benefited, during the Asian session. The EUR/USD pair advanced up to 1.0757 during the London session, but was unable to extend beyond it, and consolidates in a quiet range ahead of the US opening. With little macroeconomic news doing the rounds, the 1 hour chart for the pair shows that there's no directional strength, as the price is well below its 100 and 200 SMAs, whilst the RSI indicator hovers around 47.

    In the 4 hours chart, a horizontal 20 SMA caps the upside around the mentioned daily high, whilst the technical indicators remain stuck around their mid-lines. The pair has been trading in between 1.0670 and 1.0810 for over a week already, which means only some clear break of those extremes will open doors for some directional moves during the upcoming sessions."
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