26 Sep 2014
US Q2 GDP result boosts USD - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that the final US Q2 GDP reading showing the biggest annual increase since the end of 2011, of 4.6%, propped up the dollar.
Key quotes
"Market reaction has been however limited with no surprises, and ahead of next week fundamental data."
"Short term, the EUR/USD 1 hour chart shows price extending below its 20 SMA and momentum heading lower into negative territory, albeit RSI bounces from oversold levels."
"In the 4 hours chart the overall technical stance remains clearly bearish, with a break below 1.2700 required to confirm a new downward movement towards 1.2660 price zone."
Key quotes
"Market reaction has been however limited with no surprises, and ahead of next week fundamental data."
"Short term, the EUR/USD 1 hour chart shows price extending below its 20 SMA and momentum heading lower into negative territory, albeit RSI bounces from oversold levels."
"In the 4 hours chart the overall technical stance remains clearly bearish, with a break below 1.2700 required to confirm a new downward movement towards 1.2660 price zone."