19 Feb 2015
EUR/USD soft, but well in range – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that technicals suggest the outlook for EUR/USD remains neutral, with the pair trapped within the 1.1340-1.1435 range.
Key Quotes
“The dollar regained most of the ground lost following a dovish FED late Wednesday, with the American currency stronger against most of its rivals. The EUR/USD pair advanced to a fresh weekly high of 1.1449, but retraced sharply and is now approaching to its daily low, amid the rejection of Germany of the latest Greek proposition.”
“The Eurogroup however will have a meeting on Friday, in regards of this proposal, which helps to keep the pair within range.”
“As for the short term technical picture, the 1 hour chart shows that the price extends below its 20 and 100 SMAs both around 1.1400, while the technical indicators head lower deep into negative territory.”
“In the 4 hours chart the technical picture is for the most neutral, with the pair trapped within the limits of two contrarian trend lines, the descendant one capping the upside around 1.1435 and the ascendant one, at 1.1340.”
“Support levels: 1.1340 1.1305 1.1280”
“Resistance levels: 1.1435 1.1485 1.1530”
Key Quotes
“The dollar regained most of the ground lost following a dovish FED late Wednesday, with the American currency stronger against most of its rivals. The EUR/USD pair advanced to a fresh weekly high of 1.1449, but retraced sharply and is now approaching to its daily low, amid the rejection of Germany of the latest Greek proposition.”
“The Eurogroup however will have a meeting on Friday, in regards of this proposal, which helps to keep the pair within range.”
“As for the short term technical picture, the 1 hour chart shows that the price extends below its 20 and 100 SMAs both around 1.1400, while the technical indicators head lower deep into negative territory.”
“In the 4 hours chart the technical picture is for the most neutral, with the pair trapped within the limits of two contrarian trend lines, the descendant one capping the upside around 1.1435 and the ascendant one, at 1.1340.”
“Support levels: 1.1340 1.1305 1.1280”
“Resistance levels: 1.1435 1.1485 1.1530”