24 Jul 2014
EUR/USD rises to 1.3484 on strong Eurozone PMIs - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the EUR/USD has extended its intraday range by a few pips on Thursday, posting a lower low for the year of 1.3437 before extending up to 1.3484 on the back of stronger than expected local PMI readings.
Key quotes
“Nevertheless, the pair was unable to sustain its shy gains and trades back in the 1.3460 price zone.”
“The hourly chart shows price steady above its 20 SMA, and indicators mixed in positive territory, without showing a certain direction.”
“In the 4 hours chart daily high converged, with a bearish 20 SMA that limited the upside, while indicators corrected oversold readings but hold in negative territory.”
“As long as below the 1.3500 level, the pair remains exposed to the downside despite the tedious lack of strength.”
Key quotes
“Nevertheless, the pair was unable to sustain its shy gains and trades back in the 1.3460 price zone.”
“The hourly chart shows price steady above its 20 SMA, and indicators mixed in positive territory, without showing a certain direction.”
“In the 4 hours chart daily high converged, with a bearish 20 SMA that limited the upside, while indicators corrected oversold readings but hold in negative territory.”
“As long as below the 1.3500 level, the pair remains exposed to the downside despite the tedious lack of strength.”