7 May 2015
EUR/USD sees further upside scope – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, sees further upside potential for EUR/USD towards 1.1420/30 if the pair breaks above 1.1390.
Key Quotes
“The 4 hours chart shows that the 20 SMA advanced below the current price, whilst the technical indicators present a mild bullish tone in overbought territory, far anyway from suggesting the pair is exhausted.”
“Ever since breaking higher, short term buying interest has surged in the 1.1300/20 region, which means that only below this area the pair can correct lower, towards the next support at 1.1250.”
“Renewed advances above 1.1390 should lead to a short term advance up to the 1.1420/30 region, whilst an acceleration above this last should lead to a test of the 1.1460 level”
Key Quotes
“The 4 hours chart shows that the 20 SMA advanced below the current price, whilst the technical indicators present a mild bullish tone in overbought territory, far anyway from suggesting the pair is exhausted.”
“Ever since breaking higher, short term buying interest has surged in the 1.1300/20 region, which means that only below this area the pair can correct lower, towards the next support at 1.1250.”
“Renewed advances above 1.1390 should lead to a short term advance up to the 1.1420/30 region, whilst an acceleration above this last should lead to a test of the 1.1460 level”