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EUR/USD: neutral capped at 20 4hr SMA - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - In respect of EUR/USD, Valeria Bednarik, chief analyst at FXStreet noted the current conditions in a neutral price outlook.

    Key Quotes:

    "According to the latest releases, the largest European economy continued growing as the third quarter GDP came as expected at 0.3% whilst the IFO survey showed that the business climate index climbed to 109 in November, the highest level since June 2014, from 108.2 in October.

    The release of the US Q3 GDP second revision resulted better than expected, up to 2.1% from a previous reading of 1.5% and above the 2.0% expected. Also, the US trade deficit came better-than-expected, down to $-58.41B from a previous $-58.63B.

    In the 4 hours chart, the pair maintains a neutral stance, with the price a couple of pips below a mild bearish 20 SMA and the technical indicators heading higher but below their mid-lines."
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