17 Feb 2015
EUR/USD could drop to 1.13 levels – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, views that EUR/USD might head lower towards 1.13 levels today as Greece-led uncertainty lingers.
Key Quotes
“The EUR/USD fell below 38.2% retracement at 1.1366 levels after having faced rejection at the 23.6% retracement at 1.1429.”
“The failure of the Eurogroup talks ensured the pair extended the slide towards 50% retracement at 1.1316.”
“However, the pair bottomed out at the low of 1.1318 levels, although gains were capped near the hourly 100-MA at 1.1365.”
“The sentiment is likely to remain weak as the failure of Eurogroup talks increases the risk of Greece overriding its deadlines - the ECB deciding when to cut off Greek banks' ELA access on Wednesday and Eurogroup President Dijsselbloem is saying this week is the only window for negotiation. Thus, the pair could fall to 1.1316-1.13 levels today.”
“..with Greece-led uncertainty and bearish daily RSI , the upside is likely to remain capped at 1.1366 levels.”
Key Quotes
“The EUR/USD fell below 38.2% retracement at 1.1366 levels after having faced rejection at the 23.6% retracement at 1.1429.”
“The failure of the Eurogroup talks ensured the pair extended the slide towards 50% retracement at 1.1316.”
“However, the pair bottomed out at the low of 1.1318 levels, although gains were capped near the hourly 100-MA at 1.1365.”
“The sentiment is likely to remain weak as the failure of Eurogroup talks increases the risk of Greece overriding its deadlines - the ECB deciding when to cut off Greek banks' ELA access on Wednesday and Eurogroup President Dijsselbloem is saying this week is the only window for negotiation. Thus, the pair could fall to 1.1316-1.13 levels today.”
“..with Greece-led uncertainty and bearish daily RSI , the upside is likely to remain capped at 1.1366 levels.”