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14 Apr 2015
EUR/USD technicals favor the downside - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes EUR/USD technicals favour the downside, with a break below 1.0519 expected to pave way for 1.0461, while above 1.0600 will see 1.0640/50.
Key Quotes
“The EUR/USD pair trades near the lows set on Monday at 1.0519, weighed by tepid fundamental figures, and the increasing risk of a Greece default.”
“.. the technical picture continues to favor the downside, with sellers aligned at 1.0600 and the 4 hours chart showing that the 20 SMA maintains a strong bearish slope around 1.0610, whilst the technical indicators stand directionless below their mid-lines.”
“A downward acceleration below the mentioned weekly low should lead to a downward continuation towards 1.0461, this year low, with additional declines not seen for today, ahead of ECB monetary policy meeting next Wednesday.”
“A steady advance above 1.0600 on the other hand, may see the pair advancing up to 1.0640/50, albeit as long as below 1.0690, 61.8% retracement of its latest bullish run, the downside will remain favored.”
Key Quotes
“The EUR/USD pair trades near the lows set on Monday at 1.0519, weighed by tepid fundamental figures, and the increasing risk of a Greece default.”
“.. the technical picture continues to favor the downside, with sellers aligned at 1.0600 and the 4 hours chart showing that the 20 SMA maintains a strong bearish slope around 1.0610, whilst the technical indicators stand directionless below their mid-lines.”
“A downward acceleration below the mentioned weekly low should lead to a downward continuation towards 1.0461, this year low, with additional declines not seen for today, ahead of ECB monetary policy meeting next Wednesday.”
“A steady advance above 1.0600 on the other hand, may see the pair advancing up to 1.0640/50, albeit as long as below 1.0690, 61.8% retracement of its latest bullish run, the downside will remain favored.”