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23 Feb 2015
EUR/USD technicals favouring the downside – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, EUR/USD requires a break below 1.1280 to confirm further declines towards 1.1250, with technicals supporting the downside for the pair.
Key Quotes
“The EUR/USD pair fell as low as 1.1294 this Monday, with broad dollar strength leading the European morning. The pair however, managed to bounce back above the 1.1300 figure despite the US Chicago activity index rose above expected, un to 0.13.”
“In other order of news, Greece has presented its list of conditions to the EU group, aimed to ease austerity conditions, but the rest of the union needs to approve them, a new chapter in the Greek drama.”
“From a technical point of view, the 1 hour chart shows that the price develops far below their midlines, whilst the technical indicator are showing a limited bounce from oversold territory.”
“In the 4 hours chart the technical picture supports the downside, with indicators heading lower in negative territory, and the moving averages capping the upside in the 1.1380 price zone.”
“A break below 1.1280 is required to confirm further declines towards the critical support at 1.1250, the level that contained the downside all of this February.”
Key Quotes
“The EUR/USD pair fell as low as 1.1294 this Monday, with broad dollar strength leading the European morning. The pair however, managed to bounce back above the 1.1300 figure despite the US Chicago activity index rose above expected, un to 0.13.”
“In other order of news, Greece has presented its list of conditions to the EU group, aimed to ease austerity conditions, but the rest of the union needs to approve them, a new chapter in the Greek drama.”
“From a technical point of view, the 1 hour chart shows that the price develops far below their midlines, whilst the technical indicator are showing a limited bounce from oversold territory.”
“In the 4 hours chart the technical picture supports the downside, with indicators heading lower in negative territory, and the moving averages capping the upside in the 1.1380 price zone.”
“A break below 1.1280 is required to confirm further declines towards the critical support at 1.1250, the level that contained the downside all of this February.”