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EUR/USD: risk remains to the downside - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 18, 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 majors are having a hard time to find some direction, and even to attract speculative interest this Wednesday, trading in tight ranges near Tuesday's closes.

    Key Quotes:

    "The EUR/USD pair managed to bounce some from the multi-month low set at 1.0630 as European stocks opened lower but the rally stalled at 1.0691, where selling interest quickly rejected the advance.

    Investors are waiting for the FOMC Minutes of the latest meeting, to be released in the American afternoon. In the meantime, the 1 hour chart shows that the price is above its 20 SMA, whilst the technical indicators aim slightly higher above their mid-lines, in line with some further advances.

    In the 4 hours chart, however, the price remains below a bearish 20 SMA, while the technical indicators turned lower in negative territory after correcting oversold readings, maintaining the risk towards the downside."
    For more information, read our latest forex news.

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