12 Jan 2015
EUR/USD heavy tone prevails – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals indicate that the bearish tone still prevails for EUR/USD, after the pair continued to fall in the European session with the upside capped around 1.1830 levels.
Key Quotes
“The EUR/USD pair resumed its slide with Monday’s European opening, falling to a daily low of 1.1785, with no major catalyst behind the slide, but renewed concerns about ECB’s next step on January 22nd.”
“In the meantime, the oil is trading around its recent multi-year low while stocks hold to some intraday gains.”
“The EUR/USD 1 hour chart shows that the price bounced from the mentioned low but the overall tone coming from technical readings is bearish as per 20 and 100 SMAs capping the upside around 1.1830 while momentum and RSI remain well into negative territory.”
“In the 4 hours chart indicators are also biased lower while price stands below its 20 SMA, also supporting some further slides ahead.”
Key Quotes
“The EUR/USD pair resumed its slide with Monday’s European opening, falling to a daily low of 1.1785, with no major catalyst behind the slide, but renewed concerns about ECB’s next step on January 22nd.”
“In the meantime, the oil is trading around its recent multi-year low while stocks hold to some intraday gains.”
“The EUR/USD 1 hour chart shows that the price bounced from the mentioned low but the overall tone coming from technical readings is bearish as per 20 and 100 SMAs capping the upside around 1.1830 while momentum and RSI remain well into negative territory.”
“In the 4 hours chart indicators are also biased lower while price stands below its 20 SMA, also supporting some further slides ahead.”