8 Apr 2015
EUR/USD consolidation ahead – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that technicals suggest EUR/USD might consolidate at current levels, with the pair requiring a break above 1.0910 to see gains or below 1.0810 to resume its downside.
Key Quotes
“The technical picture according to the 4 hours chart, suggest some further consolidation at current levels, as the technical indicators are aiming higher below their mid-lines, limiting the downside at the time being.”
“The 20 SMA in the same chart, remains well above the current price, acting as dynamic resistance around 1.0910.”
“Furthermore, renewed buying interest above the Fibonacci area, may result in an advance up to 1.0910, whilst beyond this last, the next bullish target comes at 1.0950.”
“To be able to resume the downside, the pair needs to accelerate below the 1.0810 level, eyeing then the 1.0730/50 price zone as the next probable bearish target.”
Key Quotes
“The technical picture according to the 4 hours chart, suggest some further consolidation at current levels, as the technical indicators are aiming higher below their mid-lines, limiting the downside at the time being.”
“The 20 SMA in the same chart, remains well above the current price, acting as dynamic resistance around 1.0910.”
“Furthermore, renewed buying interest above the Fibonacci area, may result in an advance up to 1.0910, whilst beyond this last, the next bullish target comes at 1.0950.”
“To be able to resume the downside, the pair needs to accelerate below the 1.0810 level, eyeing then the 1.0730/50 price zone as the next probable bearish target.”