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19 May 2015
EUR/USD risk shifts to the downside – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, views that EUR/USD might attract sellers on any spikes, expecting a break below 1.1120 to pave way for 1.1050.
Key Quotes
“The technical picture for the EUR/USD in the 4 hours chart shows that the price is posting a tepid bounce from its daily low set at 1.1159 but the technical indicators have turned sharply lower and head south near oversold levels, whilst the price is now below its 20 and 100 SMAs.”
“Additional declines will find support around 1.1120, a key Fibonacci level, with a break below it exposing the pair to a continued decline towards the 1.1050 price zone.”
“At this point, the pair needs to regain 1.1240 to shrug off the strong negative tone, and be able to regain some ground towards 1.1280, although the risk has turned to the downside and selling interest can surge on spikes higher.”
Key Quotes
“The technical picture for the EUR/USD in the 4 hours chart shows that the price is posting a tepid bounce from its daily low set at 1.1159 but the technical indicators have turned sharply lower and head south near oversold levels, whilst the price is now below its 20 and 100 SMAs.”
“Additional declines will find support around 1.1120, a key Fibonacci level, with a break below it exposing the pair to a continued decline towards the 1.1050 price zone.”
“At this point, the pair needs to regain 1.1240 to shrug off the strong negative tone, and be able to regain some ground towards 1.1280, although the risk has turned to the downside and selling interest can surge on spikes higher.”